One lawmaker removed from office, three House speakers, around 300 bills passed by both chambers – here’s a look back at the 118th session of Congress by the numbers. Aneeta Mathur-Ashton Dec. 24, 2024 Who’s Coming to Washington? President-elect Donald Trump is pi...
The IRS originates from the Commissioner of Internal Revenue, a federal office created in 1862 to assess the nation's first income tax to fund the American Civil War. The temporary measure provided over a fifth of the Union's war expenses before being allowed to expire a decade later. In ...
Dear Office of Associate Chief Counsel(Passthroughs & Special Industries): The Distributed Wind Energy Association(DWEA, seewww.distributedwind.org)) is a national trade association representing the sector of the wind industry that designs, finances, manufactures, installs and supports wind turbines o...
In the matter of the Biden family business and the protection thereof, House Oversight Committee Chairman James Comer announced that staff conducted a transcribed interview with a former FBI Supervisory Special Agent assigned to the FBI’s Wilmington office and the Biden criminal investigation. Comer ...
To report a tax scheme or a dishonest tax return preparer individuals should send a completedForm 14242, Report Suspected Abusive Tax Promotions or Preparers, (along with any supporting materials) via mail or fax to the IRS Lead Development Center in the Office of P...
I work from home, but I would never dare claim a home-office deduction, so the campaign is working. For our third item, the IRS loves to useexaggerated estimatesof a “tax gap.” This is what it means in reality. Since I’mnot a fan of withholding, this next tweet hits home. ...
Trump’s 2024 Campaign in Photos After a tumultuous election cycle, the divisive former president has reclaimed the highest office in the nation. Nov. 6, 2024 Why Is There No Spending Bill? Growing discord among Republicans, a louder MAGA faction and a last-minute controversial request are...
According to the nonpartisan Government Accountability Office, more than 90% of audits are on families and small businesses below the $400,000 income threshold. Treasury Secretary Janet Yellen testifies before the Senate Finance Committee on Capitol Hill on March 16, 2023.(Chip Somodevilla...
Cheryl R. Frank is a former Senior Tax Attorney in the Tax Litigation Division of the IRS Office of Chief Counsel in Washington DC. Her area of expertise was Tax Shelter Litigation, which included partnerships and tax accounting issues. In addition to representing the IRS in Court, she advised...
Income tax numbers at the accountants office The chance of being audited by the IRS is extremely slim at the moment, with the odds of an individual audit falling significantly over the past decade. The agency audited just 0.45% of individual tax returns in fiscal 2019, according to a recent...