Internal Revenue Service
revenue service of the United States federal government
Entity sentiment
Events
01.07.2024Labour Party wins the general election
01.07.2024Labour Party wins the general election
Express your sentiment!
Related
News
Opinions
Statements
politics 2025-06-27 00:00
IRS staffing cuts threaten tax revenue and filing season chaos - The IRS workforce has decreased from over 102,000 to around 75,700 employees in the past year due to cuts.
- With these staffing reductions, taxpayers can expect delays and complications in the upcoming filing seasons.
- The ongoing cuts threaten billions in lost revenue for the U.S. government and disrupt essential taxpayer services.
00
politics 2025-06-12 21:44
Senate confirms Billy Long despite controversies surrounding his record - Former Congressman Billy Long was confirmed as IRS Commissioner by the Senate in a 53-44 vote amidst significant controversy.
- Long's past actions, including support for legislation to eliminate the IRS, raised concerns among Senate Democrats who argued against his suitability for the role.
- His appointment reflects the Trump administration’s efforts to transform the IRS, highlighting the ongoing debate about its functions and credibility.
00
military conflicts 2025-05-23 00:00
IRS mandates disclosure of weak tax positions to prevent penalties - Taxpayers without substantial authority for their tax positions must disclose details to the IRS.
- Failure to disclose can lead to penalties and extend audit periods.
- Adequately disclosing tax positions helps mitigate risks and avoid penalties.
00
politics 2025-05-21 12:36
Billy Long faces backlash over dubious tax ties during IRS nomination hearing - Billy Long, the nominee for IRS Commissioner, was questioned by senators regarding his previous support of controversial tax breaks.
- Democratic senators expressed concerns about Long's connection to a firm involved in dubious tax credits and potential influence over IRS audits.
- If confirmed, Long's leadership could signify significant changes for the IRS, amidst ongoing calls for reform and scrutiny of political influences.
00
politics 2025-05-07 00:00
IRS faces crisis as a third of tax auditors laid off amid efficiency cuts - By March 2025, the IRS lost over 11,000 employees, including 3,623 revenue agents.
- The cuts were part of an initiative by the Department of Government Efficiency led by Elon Musk.
- These changes could significantly limit the IRS's ability to enforce tax compliance.
00
politics 2025-05-06 15:47
UNAIDS plans drastic cuts as funding crumbles - UNAIDS plans to cut its workforce by over half due to lost funding from key donors.
- The agency will move many posts to lower-cost countries to manage operational expenses.
- The funding cutbacks pose a significant threat to global AIDS response efforts.
00
business 2025-05-06 06:00
IRS reports average tax refunds increase over last year - The average tax refund amount has risen by 3.3% compared to last year.
- The total number of tax refunds issued has decreased by 1.3% in the current filing season.
- Ongoing improvements and increased efficiency are key focuses for the IRS moving forward.
00
technology 2025-05-06 00:00
IRS automates legal guidance with new AI tools - Researchers reviewed the use of AI tools, specifically chatbots, by the IRS and federal agencies in providing legal advice to the public.
- The Interactive Tax Assistant answers various taxpayers' questions, showcasing a trend toward automated responses in public service.
- Professors Blank and Osofsky emphasize the need for transparency and caution regarding the nuances of the law when using these tools.
00
society 2025-05-02 20:40
Hunter Biden abandons lawsuit against IRS whistleblowers - Hunter Biden filed a lawsuit against IRS whistleblowers Gary Shapley and Joseph Ziegler in September 2023, alleging media targeting.
- He recently dismissed the lawsuit with prejudice, indicating it cannot be refiled.
- The whistleblowers claim his withdrawal reflects their credibility and that intimidation tactics were misplaced.
00
business 2025-05-02 17:48
IRS achieves 5% increase in tax collection efficiency - Total tax receipts have increased by over 5% this filing season compared to last year.
- The IRS has seen a 1.5% rise in the number of processed tax returns.
- This efficiency is part of broader efforts by the Treasury Department to modernize the IRS under the Trump administration.
00
business 2025-04-29 00:00
IRS tightens scrutiny on expats claiming additional child tax credit - The Additional Child Tax Credit offers up to $1,700 per qualifying child but has strict eligibility regulations.
- Due to high rates of improper payments, the IRS has escalated audits focusing on expatriate ACTC claims.
- Expatriates must carefully review their documentation and compliance to avoid financial penalties.
00
business 2025-04-25 00:00
IRS audit risks increase with unfiled foreign information returns - Taxpayers may face an unlimited audit period by the IRS if they do not file certain foreign information returns.
- Less than 1% of taxpayers were audited from 2013 to 2021, but IRS enforcement is shifting due to funding changes.
- Increased reliance on AI in IRS processes may lead to frustrations and overlooked taxpayer cases.
00
politics 2025-04-24 03:14
Musk and Bessent clash in shouting match over IRS control - Elon Musk and Scott Bessent had a loud altercation regarding the IRS's leadership in the White House.
- The argument escalated with personal insults and required an aide to intervene.
- This incident exemplifies the ongoing tensions between Musk and Bessent over government personnel and policy decisions.
00
technology 2025-04-24 00:00
Meta faces €200 million fine for controversial data consent model - Meta was fined €200 million for a new data consent model implemented in the EU.
- A Salesforce survey indicated declining confidence among business leaders in the reliability of their data in 2023.
- The evolution of no-code platforms raises concerns regarding governance and compliance as businesses rely more on data-driven decisions.
00
business 2025-04-24 00:00
Merging CFO and COO roles can create a unified company - Increased tariffs on goods from China have led to significant workforce reductions in multiple U.S. industries.
- Companies are experiencing rising costs and reduced availability of goods, which are affecting their operations.
- There is cautious optimism for hiring increases in the coming years, suggesting potential recovery from these economic pressures.
00
politics 2025-04-23 10:18
IRS turmoil as tens of thousands faced layoffs and retirements - The IRS faces significant workforce reduction due to layoffs and retirements.
- Leadership turnover and workforce loss could diminish the agency's effectiveness.
- Continued operational challenges threaten the IRS's ability to serve taxpayers.
00
politics 2025-04-18 20:38
Trump replaces Musk-backed IRS commissioner amid Bessent's complaints - Gary Shapley was recently appointed acting commissioner of the IRS but is being replaced after complaints about his selection.
- Deputy Treasury Secretary Michael Faulkender has been chosen as his replacement amid ongoing tensions between Treasury leadership and Elon Musk.
- The change aims to restore trust in the IRS and comes as part of a broader effort to reform the agency.
00
politics 2025-04-18 20:28
Gary Shapley ousted as acting IRS commissioner after three days - Gary Shapley was installed as acting IRS commissioner on April 15, 2025, due to tensions within the Trump administration.
- He was ousted just three days later after Treasury Secretary Scott Bessent objected to the appointment and cited a lack of consultation.
- The constant changes in leadership at the IRS reflect ongoing turmoil and political maneuvering during Trump's second term.
00
business 2025-04-14 17:52
Krispy Kreme gives sweet tax break on doughnuts for consumers - April 15 marks the IRS deadline for federal income tax return filing.
- Several well-known food chains are offering limited-time deals on Tax Day.
- These promotions aim to alleviate the stress of tax obligations for consumers.
00
society 2025-04-14 17:41
IRS extends tax filing deadline for disaster victims - Taxpayers affected by natural disasters have until May 1, 2025, to file their tax returns.
- The extension covers nine states, including Florida and North Carolina, due to the devastation from Hurricane Helene.
- It's crucial for disaster victims to document their losses and remain vigilant against potential tax scams.
00
society 2025-04-11 03:00
IRS allows ICE access to immigrant tax data for deportation efforts - The Internal Revenue Service has permitted Immigration and Customs Enforcement access to tax data to locate illegal immigrants.
- This new arrangement facilitates the cross-verification of undocumented immigrants' addresses against their tax records.
- The agreement raises concerns over privacy laws and implications for undocumented immigrant tax compliance.
00
society 2025-04-10 11:25
Trump tax cuts could drive U.S. deficit to $12 trillion without offsets - A Congressional Budget Office report estimates that extending the Trump tax cuts without spending offsets could lead to a $12 trillion deficit by 2055.
- The Heartland Institute's analysis indicates that lower- and middle-income earners benefited more from the tax cuts than high-income earners.
- The debate over the future of the tax cuts reflects wider economic challenges and concerns about fiscal responsibility.
00
society 2025-04-10 05:55
Acting IRS commissioner resigns after controversial immigration data deal - Acting IRS Commissioner Melanie Krause is resigning amid a recent agreement to share immigrant tax data for deportation purposes.
- This controversial decision has raised significant concerns regarding taxpayer privacy and the IRS's role in immigration enforcement.
- Krause's departure highlights ongoing challenges within the IRS and responses to current immigration policies.
00
business 2025-03-31 11:45
IRS provides taxpayers multiple strategies to manage tax debts - The IRS provides various strategies for taxpayers struggling with tax debts, including Offers in Compromise and installment agreements.
- Taxpayers can settle their debts for less than owed through an Offer in Compromise, which considers financial circumstances.
- Acting quickly is essential to prevent worsening financial situations due to unpaid taxes.
00
business 2025-03-28 03:00
IRS projects massive tax shortfall amidst rising copper prices - The IRS has projected a $500 billion tax shortfall, raising concerns about future government financing.
- The price increase in copper has been linked to specific economic factors like tariffs.
- These unfolding developments underscore the need for discussions about taxation and the role of government intervention.
00
politics 2025-03-26 10:00
IRS braces for historic revenue drop as taxpayers avoid filing - The IRS predicts over a $500 billion shortfall in tax revenue due to a rise in taxpayers planning to skip filings.
- This change in behavior is linked to budget cuts and staffing reductions initiated by DOGE.
- Experts warn that these cuts could lead to dysfunctionality within the IRS and an overall decrease in effective tax collection.
00
business 2025-03-26 08:00
Senator calls for 24/7 access to EIN applications for aspiring business owners - Senator Joni Ernst requested enhanced technology from the IRS to improve 24/7 access to EIN applications.
- The current EIN application tool is only available during specific hours on weekdays, which delays business operations.
- Improving access could significantly benefit aspiring business owners and streamline the entrepreneurial process.
00
society 2025-03-26 00:00
IRS and ICE prepare data-sharing agreement to locate undocumented immigrants - The IRS is working on an agreement allowing ICE to verify the addresses of undocumented immigrants.
- Only specific individuals, the Homeland Security Secretary and acting ICE Director, can request information from the IRS.
- This raises concerns about taxpayer confidentiality and the potential effects on tax compliance among undocumented workers.
00
business 2025-03-25 00:00
Cancelled debts trigger IRS tax obligations for many Americans - When a debt is cancelled, the IRS generally requires it to be reported as income.
- Several exceptions exist which could limit tax liability for discharged debts.
- Understanding the nuances of these tax rules is crucial for avoiding unexpected IRS obligations.
00
business 2025-03-25 00:00
IRS faces uncertainty as Treasury delays workforce reduction plan - As of March 18, 2025, the IRS is still waiting for the Treasury to finalize its reduction-in-force plan.
- Concerns have been raised about the impact of staffing cuts on tax resolutions and the upcoming filing season.
- The IRS is currently managing critical personnel challenges as it prepares for the tax season.
00
politics 2025-03-24 12:40
House Republican pushes to revoke New Georgia Project's tax-exempt status - The New Georgia Project, founded by Stacey Abrams, was fined $300,000 by the Georgia State Ethics Commission for failing to disclose significant campaign contributions and expenditures.
- House Ways & Means Committee Chairman Jason Smith has urged the IRS to revoke the organization's tax-exempt status based on violations connected to political campaigning.
- Smith's request highlights ongoing issues regarding nonprofit compliance with political activity regulations and reflects increased scrutiny in this area.
00
politics 2025-03-20 21:16
IRS lawyer warns against fraudulent language in termination letters - A senior IRS lawyer indicated that mass firings were based on unverified performance claims.
- The Trump administration's directives faced legal challenges from labor unions and advocacy groups.
- These events highlight ongoing issues within the IRS, including resource management and operational efficiency.
00
2023 All rights reserved
2023 All rights reserved