Internal Revenue Service

Yes, Puerto Rico pays federal taxes. Here’s how much

Aside from knocking down power lines and destroying thousands of homes in Puerto Rico, Hurricane Maria has had another consequence: Giving Americans on the mainland a crash course in the history and political status of the US territory.<p>By now, many Americans likely have heard that though the island …

Caribbean

Here’s how much more money you can put in your 401(k) in 2018 - MarketWatch

The contribution limit for 401(k) and other employer-sponsored retirement plans has gone up $500 for 2018, according to the Internal Revenue …

Retirement

5 things Trump did this week while you weren't looking

Beneath the high-profile disputes, Trump made some big and surprising policy moves.<p>With the House out on recess and the Senate working on its budget resolution, Republicans hoped the week would be focused on tax reform. Instead the news turned into a week-long fight about a condolence call between …

Politics

More about Roy Moore and the charity that paid him

<p>Regarding the Oct. 12 front-page article “Charity privately paid Roy Moore”:<p>The charity in question, Foundation for Moral Law, didn’t pay former Alabama chief justice Roy Moore “privately”; it paid him secretly, and it is alleged to have intentionally tried to hide its actions while Moore publicly …

Opinion

The top IRS agent in Philly charged with sexual assault

The top IRS criminal agent in Philadelphia, who has been the public face of the agency in many recent tax fraud cases, has been charged with sexually …

Crime

IRS Announces 2018 Tax Brackets, Standard Deduction Amounts, And More

The Internal Revenue Service (IRS) has announced the annual inflation adjustments for a number of tax-related provisions for 2018, including, of course, the latest tax rate schedules and tax tables.<p>These are the numbers for the tax year 2018 <i>beginning January 1, 2018</i> (assuming that there are no big …

Retirement

IRS to block, suspend tax returns that lack Obamacare disclosures

The Internal Revenue Service, in a new policy, says it will block or suspend processing of 2017 income tax returns that do not comply with Obamacare …

ObamaCare

IRS Hunt for Cryptocurrency Isn’t Going Away

<i>*Expert Blog is Cointelegraph new series of articles by the crypto industry leaders. It covers everything from Blockchain technology and</i> …

Bitcoin

'Property Wars' star pleads guilty to ID theft in Phoenix

A former star on the "Property Wars" reality TV show has pleaded guilty to conspiracy to commit bank fraud and two other charges involving furniture …

Business

Senate Republicans just declared they want to kill your property tax deduction, New Jersey

WASHINGTON -- Senate Republicans just voted in favor of killing your property tax deduction, New Jersey.<p>The GOP senators, whose states received $223 …

Tax Preparation

IRS to crack down on Obamacare declarations next year

The Internal Revenue Service will not accept electronically filed tax returns for the upcoming filing season in which people fail to note whether …

Health Care

ACA Round-Up: Oregon 1332 Waiver Approved, Silent Returns Rejected, And More

On October 19, 2017, the Centers for Medicare and Medicaid Services approved Oregon’s 1332 state innovation waiver proposal. This is the fourth 1332 …

Insurance

White House pushing for new concessions in bipartisan health bill, including retroactive mandate relief

The White House signaled to Senate Republican negotiators Friday that it wants a bipartisan health-care bill to include retroactive relief this year for individuals and employers subject to the Affordable Care Act’s insurance mandate, according to individuals briefed on the matter, a request that …

Health Care

CNN poll: Most Americans oppose Trump's tax reform plan

<b>Washington (CNN) —</b> A slim majority of Americans (52%) oppose President Donald Trump's recent tax reform proposals, according to a new CNN poll conducted by SSRS, while only one-third (34%) say they support the Trump plan.<p>Support is split largely along party lines: eight-in-10 Democrats (81%) say …

Politics

IRS to America: you were probably already doxed before the Equifaxpocalype, so don't worry about it

IRS Commissioner John Koskinen said that he didn't expect the risk of fraud to go up this tax-filing season despite the world-beating Equifax breach …

Identity Theft

IRS still enforcing Obama-era insurance mandate

WASHINGTON (AP) — Contrary to widespread perceptions, the IRS still appears to be enforcing the unpopular Obama-era requirement that most people carry health insurance or risk a fine.<p>The agency says on its website that it will automatically reject electronic returns for tax year 2017 that don't …

Business

Democrat: Trump joked about releasing tax returns

"He joked about someday maybe you'll see my tax returns, " Sen. Sherrod Brown (D-Ohio) told reporters.

Donald Trump

The forfeiture racket rolls on

Public opinion may be solidly opposed to civil asset forfeiture. It may be opposed by much of Congress, state legislatures and elected officials outside of law enforcement. But the outrages continue. First up, an Internal Revenue Service forfeiture, reported here in The Washington Post:<p>Oh Suk Kwon, …

Opinion

Credential Engine seeks to create a database of public information on all credentials

One of the loudest complaints about higher education these days is that prospective students lack good information about the value of college …

Higher Education

Report: IRS refuses to give back $59G to vet after seizing his business cash

The Internal Revenue Service is reportedly refusing to give back more than $59,000 to U.S. military veteran after it seized his gas station’s cash during a raid that found no evidence of criminal activity.<p>Oh Suk Kwon, 73, a South Korea immigrant who came to the U.S. back in the 1970s and served …

News (U.S.)

IRS Cybercrime Agent Lurks Dark Web Subreddit Looking For Hackers

Even the taxman lurks on r/DarkNetMarkets.<p>For years, buyers and sellers of illicit goods on the dark web have often turned to Reddit to discuss the latest developments in the internet's underground. It's only natural, then, that internet cops would follow the criminals.<p>On Tuesday, a hacker that …

Security

IRS Changes Position, Will Not Accept Tax Returns Which Are Silent On Healthcare Coverage

In a reversal, the Internal Revenue Service (IRS) has indicated that it will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act (ACA). This is in contrast to the 2017 filing season when the IRS took the …

Affordable Care Act

Predicting Dow 1 Million - Was Warren Buffett Being Bold Or Overly Cautious?

Warren Buffett recently predicted that the Dow would be over 1 Million in 100 years - and challenged skeptics to do the math.<p>This analysis takes the …

Finance

The IRS Stole $59,000 From an Innocent Veteran; Years Later, They Still Won't Return It

Oh Suk Kwon, an immigrant from South Korea who spent four decades serving in the U.S. military, had his life and business destroyed by the Internal …

Corruption

Can Being Too Fat Keep You Out of Prison?

An attorney said the prison sentence his client faces could translate to 61 percent of the time he has left to live because of his weight.

Obesity

Should You File an Early Tax Return? | Investopedia

Despite the fact that many taxpayers file their tax returns on or about April 15 every year, it’s not mandatory to wait until the last minute; …

Personal Finance

The tax extension deadline came and went. Trump didn’t share his return.

Monday was the deadline for President Trump to file his 2016 federal tax return. Ordinarily, a president would make the document public. Trump did not, which is unsurprising.<p>What is notable is that the media forgot to ask.<p>Among dozens of questions posed to Trump during an impromptu news conference …

Politics

GAO denies Equifax dispute of IRS contract

The Government Accountability Office today denied a contract bid protest brought by Equifax as the much-criticized credit reporting agency fought to hold on to a deal helping the IRS prevent identity fraud.<p>After a 100-day review, the GAO determined that the IRS was justified in its decision to …

Politics

Trump can’t sell his tax plan — so change it

“When you’re explaining, you’re losing,” conventional political wisdom has told us. In an era when confirmation bias runs rampant, explanation is particularly challenging. If you must explain complicated policy choices, some simple rules may enhance your chances of breaking through the political …

Opinion

Federal Court Shuts Down Houston Area Tax Return Preparers

A federal court in Houston, Texas, permanently enjoined Levett Navarro Camarena and her son Chase Edward Camarena from preparing federal tax returns …

Corruption