Tag #Irs

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Tax Debt Relief: Key Questions to Ask Specialists

Facing IRS tax debt? Many are turning to tax relief specialists for help with payment plans, Offers in Compromise, or stopping wage garnishments, but careful questioning is crucial before engaging their services.

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48% Bias Score

Reduced Inequality
edition.cnn.com
🌐 85% Global Worthiness
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IRS Staffing Cuts to Cost US Hundreds of Billions in Revenue

The Trump administration's 24% reduction of IRS staff, disproportionately impacting high-revenue generating units, is projected to cause hundreds of billions of dollars in lost revenue, worsening the national debt and undermining tax compliance.

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52% Bias Score

Reduced Inequality
npr.org
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Judge Rejects Bid to Block IRS Tax Data Sharing with ICE for Deportations

A federal judge on Monday rejected a request to block the IRS from sharing immigrants' tax information with ICE for deportations, enabling the Trump administration's immigration enforcement plan using existing legal frameworks, despite concerns regarding privacy and potential chilling effects on tax...

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52% Bias Score

Peace, Justice, and Strong Institutions
forbes.com
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AI Tax Software Malfunction Doesn't Excuse Penalties: Tax Court Ruling

A U.S. Tax Court case, Dealers Auto Auction of Southwest LLC v. Commissioner, ruled against a company that claimed its AI tax software malfunctioned, resulting in $118,140 in penalties for failing to file required IRS Form 8300s, highlighting the continued taxpayer responsibility for accuracy despit...

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48% Bias Score

Reduced Inequality
cnn.com
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IRS Audit Rates, Staff Cuts, and the Rise of AI

The IRS audited less than 1% of tax returns between 2013 and 2021, with variations based on income and claimed credits; however, recent staff cuts and increased AI usage raise concerns about accuracy and fairness.

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44% Bias Score

Reduced Inequality
cbsnews.com
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Choosing the Right IRS Tax Debt Relief Option

IRS tax debt relief options vary based on debt amount, ability to pay, filing status, and collection stage; proactive action and professional help may be crucial.

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48% Bias Score

Reduced Inequality
npr.org
🌐 85% Global Worthiness
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IRS Nominee Faces Scrutiny Amidst Layoffs and Data Privacy Concerns

President Trump's IRS nominee, Billy Long, faced tough questions during his Senate confirmation hearing about widespread layoffs (11,000+ jobs this year), the potential misuse of taxpayer data for political purposes or immigration enforcement, and the agency's overall direction.

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40% Bias Score

Reduced Inequality
forbes.com
🌐 65% Global Worthiness
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Section 183 Cases Highlight Record-Keeping Importance

Three 2025 court decisions addressed Code Section 183 (hobby loss rule), with outcomes highlighting the importance of record-keeping and business-like conduct in avoiding hobby loss reclassifications; one case resulted in a $15,526,029.76 judgment, including interest.

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28% Bias Score

Reduced Inequality
forbes.com
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AI's Unreliability in US International Tax Advice

AI tools provide quick but often inaccurate US international tax advice due to complexity and frequent regulatory updates; relying solely on AI risks penalties and audits, necessitating professional expertise.

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52% Bias Score

Reduced Inequality
nbcnews.com
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Trump's Threat to Revoke Harvard's Tax-Exempt Status Faces Legal Hurdles

President Trump's public threat to strip Harvard University of its tax-exempt status is legally questionable, facing obstacles from a 1998 law barring presidential influence over IRS investigations and potential lengthy legal challenges, with Harvard vowing to fight any such action.

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44% Bias Score

Quality Education
us.cnn.com
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IRS Audit Rates, Staff Cuts, and the Rise of AI

The IRS audited less than 1% of tax returns from 2013-2021, with significant variations based on income; recent staff cuts and increased AI use risk harming audit accuracy and taxpayer service.

Progress

44% Bias Score

Reduced Inequality
cbsnews.com
🌐 75% Global Worthiness
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Work Opportunity Tax Credit Offers Businesses Significant Tax Savings

The Work Opportunity Tax Credit (WOTC), a federal tax credit established in 1996, rewards businesses for hiring individuals from disadvantaged groups like veterans and long-term unemployed, offering up to $9,600 per employee and promoting workforce diversity.

Progress

36% Bias Score

Decent Work and Economic Growth

Showing 13 to 24 of 148 results