Tag #Irs

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cbsnews.com

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Apr 16, 16:15

IRS Tax Refunds Average $3,170, Paper Checks Eliminated

The average IRS tax refund in 2025 is $3,170, up from $3,050 in 2024; however, paper checks for tax refunds and payments are being eliminated starting September 2025, impacting processing times and potentially creating challenges for some taxpayers.

IRS Tax Refunds Average $3,170, Paper Checks Eliminated

The average IRS tax refund in 2025 is $3,170, up from $3,050 in 2024; however, paper checks for tax refunds and payments are being eliminated starting September 2025, impacting processing times and potentially creating challenges for some taxpayers.

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What factors can cause a taxpayer to receive a smaller refund than expected, or even owe additional taxes?

Increased refund amounts are primarily due to inflation adjustments increasing standard deductions and tax bracket ranges. However, factors like the Net Investment Income Tax (NIIT) on investment income exceeding certain thresholds and insufficient federal withholding could lead to smaller refunds or tax balances due. The shift away from paper processing will influence refund delivery timelines.

edition.cnn.com

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Apr 15, 04:10

IRS Layoffs Begin Amidst Peak Tax Season

The IRS will begin announcing layoffs by the end of this week, potentially impacting up to 20,000 employees amidst their peak tax season workload, as part of the Trump administration's plan to significantly reduce agency staffing by as much as 20%.

IRS Layoffs Begin Amidst Peak Tax Season

The IRS will begin announcing layoffs by the end of this week, potentially impacting up to 20,000 employees amidst their peak tax season workload, as part of the Trump administration's plan to significantly reduce agency staffing by as much as 20%.

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Decent Work and Economic Growth

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What is the immediate impact of the planned IRS layoffs on taxpayers and agency operations during the busiest tax-filing week?

The IRS is initiating layoff announcements this week, impacting thousands of employees amidst their busiest period, tax season. This coincides with the Trump administration's plan to reduce the agency's workforce by up to 20%, affecting approximately 20,000 jobs. The timing has caused significant employee anxiety and concerns about potential service disruptions.

english.elpais.com

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Apr 14, 22:09

IRS Announces April 15, 2026 Deadline for Unclaimed 2021 Stimulus Payments

The IRS offers a Recovery Refund Credit for unclaimed 2021 stimulus payments, with a deadline of April 15, 2026, for filing 2021 tax returns to claim up to \$1,400 per individual (\$2,800 for couples) plus dependent amounts, impacting over 1.1 million taxpayers with over \$1 billion in unclaimed fun...

IRS Announces April 15, 2026 Deadline for Unclaimed 2021 Stimulus Payments

The IRS offers a Recovery Refund Credit for unclaimed 2021 stimulus payments, with a deadline of April 15, 2026, for filing 2021 tax returns to claim up to \$1,400 per individual (\$2,800 for couples) plus dependent amounts, impacting over 1.1 million taxpayers with over \$1 billion in unclaimed fun...

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What is the deadline for claiming the unclaimed 2021 stimulus payments offered by the IRS?

The IRS is offering a Recovery Refund Credit for unclaimed 2021 stimulus payments, worth up to \$1,400 per individual or \$2,800 for married couples, with additional amounts for dependents. Taxpayers have until April 15, 2026, to file their 2021 tax return and claim this credit; otherwise, the funds are forfeited. Failure to file by this date also risks missing other tax benefits.

forbes.com

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Apr 13, 19:13

AI-Powered Tax Fraud: A Growing Threat

AI-powered tax fraud is rapidly increasing, enabling criminals to create convincing fake tax documents and claim inflated refunds; the IRS faces challenges in verification due to volume and staff cuts, necessitating proactive individual protections and long-term system upgrades.

AI-Powered Tax Fraud: A Growing Threat

AI-powered tax fraud is rapidly increasing, enabling criminals to create convincing fake tax documents and claim inflated refunds; the IRS faces challenges in verification due to volume and staff cuts, necessitating proactive individual protections and long-term system upgrades.

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How is AI impacting the scale and sophistication of tax fraud, and what are the immediate consequences for the IRS and taxpayers?

AI-powered tax fraud is a growing threat, with AI tools lowering the barrier to entry for criminals creating convincing fake tax documents. The IRS faces challenges in verifying the sheer volume of returns and detecting sophisticated fraud, exacerbated by staff cuts. This could lead to significantly increased fraudulent refund claims.

forbes.com

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Apr 11, 04:11

IRS Faces Mass Layoffs, Impacting Taxpayer Services

The IRS faces significant workforce cuts, with approximately 22,000 employees potentially let go by mid-May, impacting taxpayer services and revenue collection; this follows legal challenges to previous firings and high leadership turnover.

IRS Faces Mass Layoffs, Impacting Taxpayer Services

The IRS faces significant workforce cuts, with approximately 22,000 employees potentially let go by mid-May, impacting taxpayer services and revenue collection; this follows legal challenges to previous firings and high leadership turnover.

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What is the immediate impact of the IRS workforce cuts on taxpayers?

The IRS is facing significant workforce reductions, with approximately 11,000-12,000 employees already cut and an additional 11,000 expected to be let go by mid-May. This follows the firing of 7,000 probationary employees earlier this year, some of whom may be reinstated due to legal challenges. The cuts impact various departments, including the Small Business/Self-Employed division which serves over 57 million taxpayers.

nbcnews.com

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Apr 9, 01:17

Secret DHS-IRS Agreement to Share Tax Data of Undocumented Immigrants

The Department of Homeland Security (DHS) announced a secret agreement with the IRS to share tax information of undocumented immigrants with ICE, reversing the IRS's prior stance against such sharing, despite concerns about privacy violations and potential for abuse.

Secret DHS-IRS Agreement to Share Tax Data of Undocumented Immigrants

The Department of Homeland Security (DHS) announced a secret agreement with the IRS to share tax information of undocumented immigrants with ICE, reversing the IRS's prior stance against such sharing, despite concerns about privacy violations and potential for abuse.

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What are the long-term consequences of this agreement on tax compliance, immigrant communities, and the U.S. economy?

The secrecy surrounding this agreement, coupled with the lack of transparency regarding the specific crimes under investigation, fuels distrust and fear among immigrant communities. The potential chilling effect on tax compliance, especially within undocumented communities, has severe implications for the U.S. economy. Further legal challenges and Congressional action are anticipated to address this significant privacy breach and its impact.

cnn.com

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Apr 15, 13:15

IRS-DHS Data Sharing Agreement Sparks Fear, Legal Challenges Among Undocumented Immigrants

A new data-sharing agreement between the IRS and DHS allows the agency to use tax information to enforce immigration laws, causing fear and uncertainty among undocumented immigrants who have historically been encouraged to pay US taxes; the move has prompted legal challenges and is expected to cause...

IRS-DHS Data Sharing Agreement Sparks Fear, Legal Challenges Among Undocumented Immigrants

A new data-sharing agreement between the IRS and DHS allows the agency to use tax information to enforce immigration laws, causing fear and uncertainty among undocumented immigrants who have historically been encouraged to pay US taxes; the move has prompted legal challenges and is expected to cause...

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What are the immediate consequences of the IRS-DHS data-sharing agreement on undocumented immigrants who have been paying US taxes?

A data-sharing agreement between the IRS and DHS allows the DHS to request taxpayer information from the IRS to enforce immigration laws. This has caused fear and confusion among undocumented immigrants who have been paying taxes, leading some to reconsider filing this year. Many feel betrayed as their tax payments, previously considered private, may now be used against them.

cnnespanol.cnn.com

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Apr 15, 19:16

Millions of US Tax Returns Expected After Tax Day Due to Extensions

On April 15th, "Tax Day," the IRS anticipates millions of additional US tax returns, largely due to automatic six-month extensions and disaster-related filing extensions granted to seven states and parts of others, impacting tax processing times.

Millions of US Tax Returns Expected After Tax Day Due to Extensions

On April 15th, "Tax Day," the IRS anticipates millions of additional US tax returns, largely due to automatic six-month extensions and disaster-related filing extensions granted to seven states and parts of others, impacting tax processing times.

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What is the immediate impact of the extended tax deadlines on the IRS and taxpayers?

Tax Day" in the US is April 15th. While the IRS received most 2024 federal tax returns early (101.42 billion by April 4th), millions more are expected by today, with further millions in coming months due to automatic extensions granted to those in federally declared disaster zones. Seven states have been granted filing and payment extensions, along with select areas in others.

nbcnews.com

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Apr 14, 22:09

IRS Extends Tax Deadline for Multiple States After 2024 Natural Disasters

Due to Hurricane Helene and other natural disasters in 2024, the IRS extended the tax deadline for 2024 returns to May 1, 2025, for taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Alaska, New Mexico, Tennessee, and Virginia; California's Los Angeles County has an...

IRS Extends Tax Deadline for Multiple States After 2024 Natural Disasters

Due to Hurricane Helene and other natural disasters in 2024, the IRS extended the tax deadline for 2024 returns to May 1, 2025, for taxpayers in Alabama, Florida, Georgia, North Carolina, South Carolina, and parts of Alaska, New Mexico, Tennessee, and Virginia; California's Los Angeles County has an...

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What states had their 2024 tax deadline extended to May 1, 2025, and why?

Taxpayers in Alabama, Florida, Georgia, North Carolina, and South Carolina have a May 1, 2025, deadline for their 2024 tax returns. This extension also applies to specific counties in Alaska, New Mexico, Tennessee, and Virginia.

cnn.com

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Apr 13, 13:12

Last-Minute Tax Tips and Deadline Reminders

The IRS received 101.422 million tax returns by April 4th, but millions more are expected before the April 15th deadline; last-minute filers should gather documents, consider itemized deductions, and explore options like the IRS's free Direct File program.

Last-Minute Tax Tips and Deadline Reminders

The IRS received 101.422 million tax returns by April 4th, but millions more are expected before the April 15th deadline; last-minute filers should gather documents, consider itemized deductions, and explore options like the IRS's free Direct File program.

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How might the IRS improve its services and resources to better assist taxpayers in the future?

The article's focus on last-minute tax filing reveals potential challenges for taxpayers, particularly those unfamiliar with tax regulations or those facing complex financial situations. The availability of IRS resources, including Direct File, is crucial for improving accessibility, but income limits highlight potential disparities in access to assistance. Future improvements to tax systems should focus on simplifying processes and increasing support for taxpayers.

cbsnews.com

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Apr 11, 22:10

Ignoring Tax Deadlines: Steep Penalties and IRS Collection Actions

Millions of Americans face the April 15th tax deadline, and ignoring tax obligations leads to penalties (up to 25% of unpaid taxes), IRS collection actions (liens, levies, wage garnishment, asset seizure), and potential legal trouble; however, the IRS offers options for those behind on filing, inclu...

Ignoring Tax Deadlines: Steep Penalties and IRS Collection Actions

Millions of Americans face the April 15th tax deadline, and ignoring tax obligations leads to penalties (up to 25% of unpaid taxes), IRS collection actions (liens, levies, wage garnishment, asset seizure), and potential legal trouble; however, the IRS offers options for those behind on filing, inclu...

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What are the immediate and long-term consequences of not filing taxes by the April 15th deadline?

Failing to file taxes by the April 15th deadline results in a 5% penalty on unpaid taxes for each month the return is late, up to a maximum of 25%. The IRS will pursue increasingly aggressive collection methods, including liens, levies, wage garnishment, and asset seizure, if taxes remain unpaid. Ignoring IRS notices can lead to a substitute return being filed, often resulting in a higher tax liability.

cbsnews.com

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Apr 9, 01:17

IRS to Share Tax Data with ICE for Deportation Efforts

The IRS agreed to share immigrants' tax data with ICE, including names and addresses, to aid in deportations as part of President Trump's immigration crackdown; this move raises concerns about privacy law violations.

IRS to Share Tax Data with ICE for Deportation Efforts

The IRS agreed to share immigrants' tax data with ICE, including names and addresses, to aid in deportations as part of President Trump's immigration crackdown; this move raises concerns about privacy law violations.

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Peace, Justice, and Strong Institutions

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What is the immediate impact of the IRS sharing tax data with ICE on the deportation of undocumented immigrants?

The IRS will share immigrants' tax data with ICE to help identify and deport undocumented immigrants, as confirmed in a court filing. This data sharing includes names and addresses, enabling ICE to cross-reference information and potentially locate individuals "hiding in plain sight.

Showing 49 to 60 of 148 results