IRS

The IRS sent out a fourth batch of stimulus checks this week, delivering payments to another 25 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.

The IRS said Wednesday that has delivered stimulus checks to millions of Social Security recipients and other lower-income Americans in the third round of payments under President Biden's American Rescue Plan. 

The Biden administration on Wednesday released its wide-ranging plan to raise taxes on corporations and enforce stricter policies in order to finance President Biden's $2.25 trillion economic spending proposal.   

The Internal Revenue Service will automatically issue tax refunds next month to Americans who already filed their returns but are eligible to take advantage of a new break on unemployment benefits.

The IRS is holding onto more than $1.3 billion in unclaimed tax refunds for individuals who did not file a return in 2017 — money that will expire if those people don't collect it soon, the agency said Monday.  

The IRS and Treasury Department on Thursday night said the administration had disbursed 130 million economic impact payments worth about $335 billion as it prepares to send a large set to Social Security and other federal beneficiaries.

The IRS will start issuing tax refunds in May to Americans who already filed their returns but are eligible to take advantage of a new break on unemployment benefits. 

President Biden on Wednesday promised to crack down on tax cheats as he proposed an increase in the corporate tax rate and eliminating several perceived loopholes as a way to raise revenue for his $2 trillion infrastructure plan.

Americans have until May 17 to contribute to their individual retirement accounts and health savings accounts, the IRS said Monday. 

The IRS already delayed the main April 15 tax-filing deadline by one month, but some accounting groups say that Americans still reeling from the coronavirus pandemic need more time to submit their returns.

About 30 million Social Security recipients who are still waiting to receive their third stimulus check could see the money arrive soon. 

The IRS said Friday the purchase of personal protective equipment used to combat the spread of COVID-19, including face masks and hand sanitizer, are tax-deductible medical expenses.  

Sen. Bernie Sanders on Thursday renewed his push to hike taxes on wealthy Americans, unveiling a pair of proposals that would dramatically raise the rates paid by corporations and the top sliver of U.S. households.

The IRS sent out a second batch of stimulus checks this week, delivering payments to another 37 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.  

U.S. Treasury Secretary Janet Yellen said on Wednesday that if the IRS were funded appropriately and therefore able to crack down on tax cheats, the U.S. would be able to collect more revenue without raising taxes

More Americans are eligible to take advantage of a tax break on unemployment benefits under new guidance issued this week by the IRS.

The richest 1% of Americans dodge significantly more in income taxes than the Internal Revenue Service previously estimated, according to a new study released this week.