IRS

Mick Mulvaney told FOX Business' "Mornings with Maria" that there is "no way" to pay for Senate Democrats' $3.5 trillion spending bill without raising taxes on the middle class.

Millions of Americans who collected unemployment benefits last year and paid taxes on that money are in line to receive a federal refund from the IRS this week.

Some Democrats in Congress are pressing President Biden to repeal a $10,000 cap on state and local tax deductions as he considers tax increases, but a number of states have already approved a method that allows some residents to circumvent the cap.

The IRS potentially lost out on nearly $2 billion due to a decline in audits on the wealthiest households, a report by the Treasury Inspector General for Tax Administration found.

After sparking national backlash with its decision to reject the tax-exempt status request for a Texas-based Christian group, the IRS has now reversed course.

The tax deadline came and went, but the IRS has tens of millions of returns it has not yet processed due to a combination of COVID-19-related factors and late legislative changes made by Congress.

The National Taxpayer Advocate said the IRS had 35.3 million unprocessed returns at the end of the 2021 filing season, up more than four-fold from the 7.4 million unprocessed returns the agency had at the end of the 2019 filing season.

The 2021 tax season was the “quintessential definition of a perfect storm” according to officials, but the total average refund from the returns processed so far is slightly higher than previous tax seasons.

The IRS this week laid out the top 12 scams taxpayers should watch out for in 2021, with a heavy focus on schemes focused on COVID-19 relief.

The IRS is facing more than 35 million unprocessed tax returns, delaying refunds for many low-income Americans as the agency struggles to adopt a slew of changes related to coronavirus relief efforts, a government watchdog said Wednesday.

Trump Organization and CFO Weisselberg surrendered on Thursday.

The IRS on Monday released the first series among its top 2021 scams to watch out for, where it described several “aggressive and evolving” pandemic-related schemes.

Parents can now check their eligibility status for the expanded child tax credit and manage the monthly payments using two new online tools the IRS launched this week.

The IRS recently rejected the tax-exempt status request for a Texas-based Christian group over its purported ties to the Republican Party.

The Federal Bureau of Investigation has opened an inquiry into the leak of personal income and tax data of some of the wealthiest Americans.