Tag #Irs

cnnespanol.cnn.com
🌐 75% Global Worthiness
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IRS Opens 2024 Tax Season: April 15th Deadline, Expanded Free Filing

The IRS opened for 2024 tax returns on Monday; the deadline is April 15th, with extensions available for disaster areas or via automatic six-month filing extension (payment still due April 15th); free filing is expanded to 25 states and taxpayers with AGI under $84,000.

Progress

32% Bias Score

Reduced Inequality
cbsnews.com
🌐 75% Global Worthiness
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Unpaid Taxes: IRS Actions and Available Solutions

In 2024, hundreds of billions of dollars in back taxes are owed to the IRS; if you owe but cannot pay, the IRS will send a bill with penalties and interest, potentially escalating to liens, levies, and legal action unless you utilize payment plans, Offers in Compromise, or Currently Not Collectible ...

Progress

40% Bias Score

No Poverty
forbes.com
🌐 85% Global Worthiness
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IRS Restricts Taxpayer Appeals, Shifting Dispute Resolution to Courts

The IRS finalized regulations on January 15, 2025, preventing its Independent Office of Appeals from reviewing taxpayer challenges to IRS guidance, forcing taxpayers to litigate in federal courts, starting February 14, 2025.

Progress

44% Bias Score

Peace, Justice, and Strong Institutions
forbes.com
🌐 75% Global Worthiness
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IRS Form 1099: Automated Tax Reporting and Consequences of Non-Compliance

IRS Form 1099, crucial for automated tax reporting, requires businesses to report payments exceeding $600 to non-corporate payees; failure to report this income on personal tax returns may result in audits and tax notices.

Progress

40% Bias Score

Reduced Inequality
cnn.com
🌐 75% Global Worthiness
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IRS to Report US Cryptocurrency Transactions Starting 2025

Starting in 2025, US taxpayers using custodial digital asset trading platforms will have their crypto transactions reported to the IRS on Form 1099-DA; decentralized exchange reporting starts in 2027, while cost basis reporting is delayed until 2026; this is a tax compliance mechanism, not a new tax...

Progress

32% Bias Score

Reduced Inequality
cbsnews.com
🌐 65% Global Worthiness
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IRS Hardship Program: Eligibility, Alternatives, and Long-Term Implications

The IRS hardship program, or Currently Not Collectible (CNC) status, provides temporary tax debt collection relief to taxpayers facing financial hardship, pausing collections but not eliminating debt or accrued interest; eligibility is determined case-by-case based on income, expenses, assets, and o...

Progress

44% Bias Score

No Poverty
cnbc.com
🌐 75% Global Worthiness
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2024 Tax Season: Key Changes and Deadlines

The IRS started accepting 2024 tax returns on January 27th, with an April 15th deadline; key changes include expanded free filing options, updated tax brackets, and a modified threshold for reporting digital payments exceeding $5,000.

Progress

36% Bias Score

Reduced Inequality
forbes.com
🌐 85% Global Worthiness
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Trump's Executive Orders to Delay Tax Refunds

President Trump's executive orders mandating a return-to-office policy and imposing a hiring freeze on federal employees will likely delay tax refunds this year, impacting the IRS's ability to process returns efficiently due to reduced staffing and operational challenges.

Progress

48% Bias Score

Reduced Inequality
cnbc.com
🌐 75% Global Worthiness
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IRS Free File Program Sees Increased Usage, Extended Through 2029

The IRS Free File program, a public-private partnership offering free federal tax filing to those with an adjusted gross income (AGI) of $84,000 or less in 2024, processed 2.9 million returns through May 11, 2025, a 7.3% increase from the same period in 2024; the program will continue through 2029.

Progress

48% Bias Score

Reduced Inequality
cnbc.com
🌐 75% Global Worthiness
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Direct File's Future Uncertain Amidst Republican Opposition

The IRS's Direct File free tax filing program, which processed 140,000 returns in its 2024 pilot across 25 states saving taxpayers an estimated \$5.6 million, faces an uncertain future due to Republican opposition under the incoming GOP administration.

Progress

48% Bias Score

Reduced Inequality
cbsnews.com
🌐 75% Global Worthiness
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IRS Tax Debt Forgiveness: Options and Conditions

The IRS may forgive back taxes after 10 years, through Offers in Compromise (OICs) based on financial hardship, or via Innocent Spouse Relief; however, it requires active participation and meeting specific criteria.

Progress

36% Bias Score

Reduced Inequality
cbsnews.com
🌐 75% Global Worthiness
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Warren Questions Long's IRS Qualifications Amid ERTC Fraud Concerns

Senator Elizabeth Warren is questioning Billy Long's qualifications to lead the IRS due to his lack of tax experience and promotion of the fraud-ridden Employee Retention Tax Credit, prompting a Senate Finance Committee confirmation hearing this year and raising concerns about potential future impac...

Progress

40% Bias Score

Reduced Inequality