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Search resuls for: "Tax Administration"


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☆ IRS Failed to Send Child Tax Credit Payments to Millions of Households, Report Finds
  + stars: | 2022-09-27 | by ( Richard Rubin | ) www.wsj.com   time to read: 1 min
The IRS didn’t send payments to 4.1 million eligible households, the report by the Treasury Inspector General for Tax Administration said. WASHINGTON—The Internal Revenue Service sent $1.1 billion in advanced child tax credit payments during 2021 to people who shouldn’t have gotten them, and failed to send $3.7 billion to eligible households, according to an inspector general’s audit released on Tuesday. The audit found 1.5 million taxpayers received the payments in error, and the IRS didn’t send payments to 4.1 million eligible households. Still, the agency was 98% accurate in sending more than 175 million child tax credit payments, made as part of the government’s response to the economic challenges of the coronavirus pandemic, the report by the Treasury Inspector General for Tax Administration said.
☆ IRS Failed to Send Child Tax Credit Payments to Millions of Households
  + stars: | 2022-09-27 | by ( Richard Rubin | ) www.wsj.com   time to read: 1 min
The audit also found the Internal Revenue Service sent 1.5 million taxpayers the child tax credit payments in error. WASHINGTON—The Internal Revenue Service sent $1.1 billion in advanced child tax credit payments during 2021 to people who shouldn’t have gotten them, and failed to send $3.7 billion to eligible households, according to an inspector general’s audit released on Tuesday. The audit found 1.5 million taxpayers received the payments in error, and the IRS didn’t send payments to 4.1 million eligible households. Still, the agency was 98% accurate in sending more than 175 million child tax credit payments, made as part of the government’s response to the economic challenges of the coronavirus pandemic, the report by the Treasury Inspector General for Tax Administration said.
☆ China's flood of new electric cars cost 20% more to insure than fuel-powered cars
  + stars: | 2022-09-27 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +6 min
Vcg | Visual China Group | Getty ImagesBEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. But repair costs are another reason for higher insurance prices, since "fewer places have the capability to service electric cars in the U.S.," Gardner said. watch nowIn the U.S., Insurify's analysis of the U.S. market found there was no difference in accident rates among electric cars, hybrids and combustion engine cars. But by official Chinese statistics, new energy vehicles in the country are more prone to fires than traditional fuel-powered ones. Electric cars are based on a platform system, and certifying safety can be faster, he said, noting potential use of virtual testing scenarios, or the ability to test individual parts.
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