Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Internal Revenue Service"


25 mentions found


A year later, Mr. Werfel has overseen the clearing of a backlog of thousands of tax filings, shrinking wait times on the I.R.S. telephone lines and the creation of a system that lets qualified taxpayers submit their federal returns with no cost. But those achievements have not been enough to satisfy Republicans, who have accused Mr. Werfel of making the I.R.S. commissioners and when Mr. Werfel testifies before the House Ways and Means Committee on Thursday, he will receive a frosty reception as he fends off efforts to cut his agency’s budget. For Mr. Werfel, the face-off is an opportunity to explain why even skeptics would benefit from a well funded I.R.S.
Persons: Daniel Werfel, Werfel Organizations: Internal Revenue Service
Fidelity Charitable said distributions to nonprofits in 2023 were four times what they were 10 years ago. “I think 2023 was a pretty amazing year,” Fidelity Charitable President Jacob Pruitt told The Associated Press. According to Fidelity Charitable, donors attached their names or the name of their DAF to 96% of the grants made in 2023. Fidelity Charitable said nearly 80% of grants in 2023 went to nonprofits donors had previously supported. “It’s a struggle to figure out how to get your message out there.”Another growth area for Fidelity Charitable DAFs in 2023 was with corporations.
Persons: Jacob Pruitt, DAFs, ” Pruitt, Jude Children’s, Pruitt, , Andrew Grumet, Holland & Knight, It’s Organizations: — Fidelity, Fidelity, Associated Press, DAF, Internal Revenue Service, IRS, Fidelity Charitable, USA, Jude Children’s Research, Holland &, Fidelity Charitable DAF, Associated, Lilly Endowment Inc, AP Locations: millennials
Ian Freeman outside of the federal courthouse in Concord, New Hampshire, in April 2023. Prosecutors said that he laundered proceeds of scams by exchanging dollars for the popular cryptocurrency, charging "exorbitant fees" in the process. Freeman earned more than $1 million through his business, which he had not registered as legally required with the Financial Crimes Enforcement Network, prosecutors said. "Freeman instructed bitcoin customers, who were often victims of scams, to lie to the financial institutions and describe their deposits as church donations. From 2016 to 2019, he paid no taxes, and concealed his income from the Internal Revenue Service," the office said.
Persons: Ian Freeman, Freeman, laundered, Ian, Jane Young, Joseph Laplante Organizations: cryptocurrency, U.S ., Prosecutors, Financial, Network, New Hampshire U.S, U.S, District, Shire Free Church, of, Internal Revenue Service Locations: Concord , New Hampshire, New Hampshire, U.S, Shire, of New Hampshire
All gambling winnings are considered taxable income by the Internal Revenue Service, even if you aren't a professional gambler. How to report your winnings and lossesYour gambling winnings and losses are reported separately in your tax return. The reason for that "is to prevent tax filers from offsetting other income with gambling losses," says Razi. Why you probably won't actually claim gambling losses as a deductionThe only way to claim your gambling losses is to itemize your deductions, which most taxpayers don't do. What happens if you don't report your gambling winnings
Persons: Romeo Razi, You'll, Razi Organizations: Internal Revenue Service, CNBC, IRS Locations: Las Vegas
NEW YORK (AP) — Tim Sanders started his company, Silent Donor, based on his own experience giving money to charities. Christie Herrera, president and CEO of the conservative advocacy nonprofit Philanthropy Roundtable, has said the fight for donor privacy is the biggest challenge her organization currently faces, “I think it’s time for philanthropy to step up and start talking about these donor privacy issues,” she said. Silent Donor also sets a deadline of 30 days to move a donation through its system and into a charity. Sanders said nonprofits should listen more to donors who seek more privacy for their gifts. He said that recent decline in philanthropic donations may be related to donors not wanting others to know about their financial decisions.
Persons: — Tim Sanders, , ” Sanders, , Malala Yousafzai, Christie Herrera, , ” Chuck Collins, Collins, , Donor's Sanders, Sanders, ” Collins Organizations: Internal Revenue Service, Peace, IRS, Republican, Institute for Policy Studies, DAF, U.S . House, U.S . Senate, Lilly Endowment Inc, AP Locations: Ukrainian, United States
Democrats believe it will be essentially impossible to get that aid through both chambers of Congress without attaching it to Israel aid. AdvertisementYet despite AIPAC's endorsement of a $11.7 billion Israel aid package on Tuesday, all but 46 House Democrats voted against it. Democratic Rep. Don Beyer, a former diplomat, said he sees little urgency in approving more Israel aid. Another factor in Democrats' rejection of the Israel aid bill was its exclusion of humanitarian aid for Palestinians, which is included in the Senate's foreign aid bill. And there are some progressive Democrats who are likely to spurn further Israel aid altogether.
Persons: , That's, it's, Israel, Don Beyer of Virginia, Beyer, I'm, Joe Biden, Chuck Schumer, Don Beyer, Bill Clark, Greg Landsman, Jeremy Ben, Ami, Landsman, Sen, Bernie Sanders of, Rep, Alexandria Ocasio, Cortez Organizations: Service, Business, Democratic Rep, Republicans, Internal Revenue Service, GOP, Democratic, Jewish, Democrats Locations: Israel, Ukraine, Gaza, Ohio, Bernie Sanders of Vermont, Alexandria, Cortez of New York
How Crow uses his 160 foot yacht has drawn the attention of Senate Finance Committee investigators, who are probing Crow's financial and personal ties to Supreme Court Justice Clarence Thomas. Thomas and his wife Ginni Thomas have taken several cruises aboard the ship, the Michaela Rose, including trips around Indonesia and New Zealand. Rochelle Charter, Inc., which was formed by the Crow family to lease out the yacht, reported tax-deductible business losses in 10 of the 13 years for which ProPublic has records. In order for business losses to be deducted from federal income taxes, a company must be engaged in an actual business with paying customers. "Mr. Crow engages professional accounting firms to prepare his tax returns and complies with tax law in good faith.
Persons: Clarence Thomas, Al Drago, Harlan Crow's, Crow, Thomas, Ginni Thomas, Michaela Rose, Ron Wyden, Sen, Erin Scott, ProPublic, Wyden, Harlan Crow, Mr Organizations: U.S, Supreme, White, Washington , D.C, Bloomberg, Getty Images WASHINGTON — Billionaire, IRS, CNBC, Finance, Democratic, Reuters Tax, Inc, Internal Revenue Service Locations: Washington ,, Indonesia, New Zealand, Washington, Rochelle
It’s the most miserable time of the year: tax season. But we’re here to convince you that the I.R.S. That’s how it works in the rest of the developed world, and it could very easily work that way here, too. It is absurd that America’s tax system is so antiquated and complicated that most people must pay someone else to help them pay the government. So what is standing in the way of progress?
Organizations: Internal Revenue Service
The House failed to pass a $17.6 billion bill to provide aid to Israel on Tuesday. 14 House Republicans joined with Democrats to vote against it, citing the cost. Yet among the lawmakers who voted down the $17.6 billion bill were 14 Republicans, most of whom argued that the bill was fiscally irresponsible. AdvertisementThis is the second time the House has voted on an Israel aid bill since the October 7, 2023, Hamas terrorist attacks. That was part of an attempt to unlink Israel aid from Ukraine aid, which is far more toxic to Republicans.
Persons: Mike Johnson, , Israel —, Alejandro Mayorkas, Thomas Massie of, Massie, Marjorie Taylor Greene, Kevin McCarthy, McCarthy, Johnson Organizations: Republicans, Democrats, Service, Republican, Twitter, Internal Revenue Service, Caucus Locations: Israel, United States, Thomas Massie of Kentucky, Ukraine, Georgia
The House had already gone on the record in support of an Israel aid package. The vote for more Israel aid was 250-180, well short of the two-thirds threshold necessary for passage. “Leveraging Israel aid as it fights for survival is wrong,” Johnson said. Democrats said presidential politics played into the route House Republicans took in going ahead solely with aid for Israel. “Trump doesn't want to support Ukraine, and he also doesn't want a border deal because it hurts him politically.
Persons: Mike Johnson's, Alejandro Mayorkas, Johnson, Israel, Joe Biden's, Hakeem Jeffries, There’s, ” Johnson, “ Trump, Donald Trump's, Adam Smith, Lois Frankel of, embolden, ” Frankel, Trump, Donald Trump, , Chuck Schumer Organizations: WASHINGTON, House Republican, Homeland, Republicans, Internal Revenue Service, Democratic, Republican, White, House Republicans, Israel, House Armed Services Committee, Rep, Ukraine, Putin Locations: Israel, Ukraine, U.S, Mexico, Lois Frankel of Florida, Gaza
Over 43 million Americans currently have federal student loan debt. Offering a 401(k) match is a popular benefit: 98% of employers that offer 401(k) plans match some level of employee contributions, according to a 2013 survey of over 400 plan sponsors. At least three large employers — Abbott, Verizon and Chipotle — currently offer 401(k) matching for employees making student loan payments. The company recently created a blueprint detailing the advantages of offering a student loan repayment benefit and guidance for other organizations to design their own programs. Verizon: Secure Your FutureVerizon recently introduced a student loan payment match to help support its employees.
Persons: they're, — Abbott, Chipotle —, Abbott, We've, Mary Moreland, We're, Kevin Cammarata, Cammarata Organizations: Allianz Life, Verizon, Chipotle, Internal Revenue Service, Abbott, Employees, CNBC
Speaker Mike Johnson has said that the Senate package would be dead on arrival in the House. Mr. Johnson’s announcement to members of his conference came as senators were scrambling to finalize and vote on a bipartisan national security bill that has taken months to negotiate. attempt to force a vote on an earlier Israel aid bill that was backed by the House. But it does not include any funding for humanitarian assistance to Palestinian civilians in Gaza, which many Democrats have insisted must accompany any military aid for Israel. The $17.6 billion House measure would direct $4 billion to replenishing Israel’s missile defense systems known as Iron Dome and David’s Sling, as well as $1.2 billion to counter short-range rocket and mortar attacks.
Persons: Mike Johnson, Johnson, Donald J, Trump, Alejandro N, , ” Mr, Chuck Schumer, , House appropriators, Biden Organizations: Louisiana Republican, Republicans, Democratic, House, Internal Revenue Service, Israel Locations: Israel, Ukraine, Louisiana, Mexico, Gaza, New York, United States
Here's how to pick the best free tax filing option this season
  + stars: | 2024-02-04 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +4 min
IRS Free FileA public-private partnership between the IRS and Free File Alliance, a nonprofit comprised of tax software companies, IRS Free File offers free guided tax prep software for eligible filers. If you're comfortable with tax software, Free File has eight partners this season, with varying income eligibility — and some offer free linked state filings. Volunteer tax prep from IRS programsIf you're looking for more guidance, you may also qualify for free tax prep from IRS programs with trained volunteers. The Volunteer Income Tax Assistance, or VITA, program offers free tax prep for taxpayers typically making up to $64,000, in addition to filers with disabilities and limited English proficiency. AARP Foundation Tax-Aide also offers free tax prep for low- to moderate-income older adults.
Persons: Tim Hugo, Hugo, Steven Hamilton Organizations: U.S . Bureau of Labor Statistics, Taxpayers, IRS, Alliance, National Taxpayer, Volunteer, Internal Revenue, The George Washington University, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming
By Richard CowanWASHINGTON (Reuters) - Legislation providing $17.6 billion in new military assistance to Israel as it wages war against Hamas was unveiled on Saturday in the U.S. House of Representatives. The funding bill, offered by a House Appropriations panel, could come to a vote in the full House sometime next week, Speaker Mike Johnson said in a letter to members. The Republican-controlled House had previously approved $14.3 billion in new military aid to Israel, but with the requirement that it be paid for by clawing back a chunk of money already targeted for the U.S. Internal Revenue Service. It was unclear whether far-right House members might balk at the funding for Israel without an equal amount of savings elsewhere in the budget. Before new military aid to Israel or Ukraine can be delivered, the House and Senate must pass the same bill before sending it to President Joe Biden, a Democrat, for signing into law.
Persons: Richard Cowan WASHINGTON, Mike Johnson, clawing, Chuck Schumer, Johnson, Joe Biden, Jason Lange, Richard Cowan, Patricia Zengerle, Jonathan Oatis Organizations: Hamas, U.S . House, Representatives, Appropriations, Republican, U.S . Internal Revenue Service, Democratic, Ukraine, Israel, House Republicans, Democrat, Senate Locations: Israel, U.S, Russia, Gaza, Mexico, Ukraine, United States, Taiwan
The move gives Speaker Mike Johnson and House Republicans the chance to show support for Israel even though there is little chance the Senate will go along. The House has already approved a nearly $14.5 billion military aid package in November for Israel that the Senate declined to take up. Johnson said in his letter to colleagues that removing the offsets should allow for swift passage of the Israel aid. “During debate in the House and in numerous subsequent statements, Democrats made clear that their primary objection to the original House bill was with its offsets,” Johnson said. To ensure the support does not compromise U.S. readiness, it includes $4.4 billion to replenish U.S. stocks of weapons provided to Israel.
Persons: Mike Johnson, Johnson, ” Johnson, , Ken Calvert, There's Organizations: WASHINGTON, , Republicans, House Republicans, Internal Revenue Service, Locations: Israel, Ukraine, R
Ahead of tax season, keep an eye out for scams to steal your personal information and money. With the start of tax season comes tax scams aimed at stealing your identity and your money. Once a scammer has your SSN, they have everything they need to create a tax return and have your tax refund sent to them. Scammers will offer to file a tax return for you that will get you a larger tax refund — for a fee, of course. It is only a matter of time before the tax return is flagged and an audit is ordered, but by then the scammer will be long gone and you'll be left holding the bag for filing a false tax return.
Persons: , Scammers, you'll Organizations: Service, Internal Revenue Service, Social, IRS
JAKARTA (Reuters) - The three main candidates contesting Indonesia's presidential elections this month are proposing to bolster government coffers by creating a new tax collection agency, despite scepticism from the tax and business community. Prabowo has set the highest tax-to-GDP target of 18%, or about $100 billion in additional tax revenue, if he wins the presidency, while also promising personal income tax cuts. NEW AGENCY NOT ENOUGHHowever, some economists and the business community say a new tax agency might not lead to higher revenue if other issues like the low tax base are not addressed. "There may be more binding constraints to revenue collection than administrative independence of the tax authority," the multinational lender told Reuters. "Tax officers should be fair ...
Persons: Joko Widodo's, Prabowo Subianto, Ganjar Pranowo, Prabowo, Drajad Wibowo, Jakarta Governor Anies, Wijayanto Samirin, Jahen, Fajry Akbar, Tutum, Stefanno Sulaiman, Stephen Coates Organizations: Jakarta Governor, U.S . Internal Revenue Service, Central Java, University of Indonesia, Bank, Reuters Locations: JAKARTA, Asia's, Indonesia
Former U.S. President Donald Trump speaks to a crowd during a campaign rally on September 25, 2023 in Summerville, South Carolina. A fund intended to pay the legal bills of former president Donald Trump's allies backed chiefly by reported QAnon supporters has spent nearly $400,000, the bulk of which went to a single law firm, new records showed Wednesday. The Patriot Legal Defense Fund received more than $1.5 million between its creation in mid-July and the end of December, according to documents filed with the Internal Revenue Service. Of the total spent by the group, $221,000 went to the firm Brand Woodward Law, mostly in the form of professional and legal fees. Another $150,000 from the fund went to the law firm Gibson, Dunn and Crutcher for the nondescript purpose of "services rendered," the IRS filing shows.
Persons: Donald Trump, Donald Trump's, QAnon, Brand, Gibson, Dunn, Crutcher, Trump, Susie Wiles, Michael Glassner, Caryn, Caryn Borland, Michael Borland, Mike Pence, Michael Organizations: U.S, Patriot Legal Defense Fund, Internal Revenue Service, Brand Woodward Law, IRS, The New York Times, QAnon, Trump, Associated Press, CNBC Locations: Summerville , South Carolina, Montana
The vast majority of Americans pay to file their tax return, even though they could do it for free. Despite the fact that free tax filing preparation software is available to 70% of the population through the Internal Revenue Service's Free File program, only 4% of eligible taxpayers use the program, per a 2021 U.S. Government Accountability Analysis report. However, that doesn't have to be the case for the 2023 tax filing season, which started Jan. 29. If you made an adjusted gross income of $79,000 or less for all tax filing statuses, you qualify for the IRS Free File program, which allows filers to use software from commercial tax prep companies at no cost. There are other free options available too, including the IRS's own free tax prep software, which has been soft-launched in select states for the 2023 tax filing season.
Organizations: Government, IRS Locations: U.S
CNN —The man who stole and leaked former President Donald Trump and thousands of other’s tax records has been sentenced to five years in prison. In October, Charles Littlejohn, 38, pleaded guilty to one count of unauthorized disclosures of income tax returns. According to his plea agreement, he stole Trump’s tax returns along with the tax data of “thousands of the nation’s wealthiest people,” while working for a consulting firm with contracts with the Internal Revenue Service. Reyes was also critical of the Justice Department’s decision to only bring one count against Littlejohn. “I acted out of a sincere misguided belief,” Littlejohn said in court Monday, adding that he was serving the country and that people had a right to the tax information.
Persons: Donald Trump, Charles Littlejohn, Littlejohn, Judge Ana Reyes, ” Reyes, , , , Prosecutors, Reyes, Department’s, ” Littlejohn Organizations: CNN, Internal Revenue Service, US, Capitol, Apple, Prosecutors Locations: United States
Ex-IRS Contractor Gets Five Years in Prison for Leak of Tax Return Information of Trump, Rich PeopleA former contractor for the Internal Revenue Service who pleaded guilty to leaking tax information to news outlets about former President Donald Trump and thousands of the country’s wealthiest people was sentenced to five years in prison on Monday
Persons: Rich, Donald Trump Organizations: IRS, Trump, Internal Revenue Service
A former Internal Revenue Service contractor accused of leaking the tax documents of Donald J. Trump and other wealthy Americans was sentenced on Monday to five years in prison. The former contractor, Charles Littlejohn, known as Chaz, worked for the tax agency from 2017 to 2021, when he stole the tax records of thousands of the country’s wealthiest people, including Mr. Trump, prosecutors said. Mr. Littlejohn then provided the information to The New York Times and ProPublica. “Today’s sentence sends a strong message that those who violate laws intended to protect sensitive tax information will face significant punishment,” Nicole M. Argentieri, the acting assistant attorney general who oversees the Justice Department’s criminal division, said in a statement. Prosecutors said the harm from Mr. Littlejohn’s disclosures were “so extensive and ongoing that it is impossible to quantify.”
Persons: Donald J, Trump, Charles Littlejohn, Chaz, Littlejohn, Prosecutors, Mr, ” Nicole M Organizations: Internal Revenue, New York Times, ProPublica, Justice
Known as Direct File, the agency's free filing software pilot will begin as an invitation-only service for a group of government workers before rolling out to certain taxpayers in 12 states by mid-March. Direct File comes after a feasibility report authorized by the Inflation Reduction Act. Internal Revenue ServiceDirect File is 'starting small' with 12 statesThe IRS Direct File pilot intentionally starts with a limited group of taxpayers with relatively simple filings, according to IRS officials. While Direct File won't cover state returns, Arizona, Massachusetts and New York residents can immediately continue to state filing by importing Direct File data. While only certain taxpayers can use Direct File, the bilingual software includes built-in live chat support with IRS assistors.
Persons: Daniel Werfel, Kevin Lamarque, Laurel Blatchford, Danny Werfel, Werfel Organizations: Reuters, U.S . Department, Treasury Department, IRS, CNBC, Internal Revenue, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming, Arizona , Massachusetts, New York, California
IRS set to launch its free tax filing pilot program
  + stars: | 2024-01-25 | by ( Katie Lobosco | ) edition.cnn.com   time to read: +6 min
Washington CNN —When tax filing season opens on January 29, some taxpayers will have the option of filing their 2023 federal tax returns with a brand new, government-run system. The law required the IRS to complete a cost and feasibility study about developing a free, electronic tax filing system, which it released in May. If the pilot program is successful, Direct File could eventually rival competing services in the private market. This screenshot shows the Internal Revenue Service's free tax filing pilot. It offers step-by-step guidance, in both English and Spanish, to taxpayers filing their federal tax returns by posing questions about their income and tax situations.
Persons: Danny Werfel, haven’t, Biden Organizations: Washington CNN, IRS, Democrat, Congress, Internal Revenue, Social Security, Taxpayers, Republicans Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming
A court filing shows that Giuliani owes more than $1.3 million to the law firm Davidoff Hutcher & Citron. The lawyer Robert Costello sued Giuliani in September for $1.36 million in unpaid legal fees dating to 2019. Giuliani had planned to raise some of his legal defense money at two of Trump's properties, Andrew Giuliani previously said. "Yes, I gave Rudy $100,000 for his legal defense PAC and I was happy to do so," Elizabeth Ailes told CNBC. And the real estate investment firm Probity International, which is run by Trump donor Robert Zarnegin, gave $35,000 to the Giuliani PAC.
Persons: Rudy Giuliani, Donald Trump's, Andrew Giuliani, Caryn Borland, Giuliani, Borland, Caryn Hildenbrand, Caryn, Hildenbrand, Michael, Trump, Mike Pence, Caryn Borland's, Joe Biden, Davidoff Hutcher, Citron, Robert Costello, Elizabeth Ailes, Roger Ailes, Rudy, Ailes, Newsmax, Roger, Elizabeth, Donald Trump, Lewis Topper, Robert Zarnegin, Arnold Gumowitz, Andrew Giuliani's, Matthew Martorano, Martorano Organizations: New York, U.S, CNBC, Living Trust, Trump, Internal Revenue Service, The New York Times, Giuliani, Voting Systems, Washington , D.C, PAC, Fox, Fox News, Businessman, Probity International, Giuliani PAC, Trump Save America Locations: Washington , U.S, del Mar , California, Georgia, Washington ,, Bedminster
Total: 25