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The IRS’s e-News Subscriptions include tax tips across a wide range of general tax topics, IRS Newswire for breaking news and tax law changes and IRS Guidewire for technical tax guidance issued ...
“The IRS just said it wants $20B more money,” billionaire Elon Musk posted on X, before sharing a poll asking whether the agency should be "deleted" altogether.
The nation’s tax filing season begins Monday, as the Internal Revenue Service starts accepting and processing 2023 federal tax returns. Taxpayers have until April 15 to file without an extension.
IRS location sign at Constitution Avenue, Washington, D.C. 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 funded over a fifth of the Union's war expenses before being allowed to expire a decade later.
Required minimum distributions (RMDs) are minimum amounts that U.S. tax law requires one to withdraw annually from traditional IRAs and employer-sponsored retirement plans and pay income tax on that withdrawal.
The United States federal budget for fiscal year 2023 ran from October 1, 2022, to September 30, 2023. The government was initially funded through a series of three temporary continuing resolutions. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2023.
The Fiscal Responsibility Act of 2023 is an act of the 118th United States Congress that suspended the debt limit until January 2025, bringing an end to the crisis. [94] The bipartisan piece of legislation, endorsed by both Republican and Democratic leadership, was introduced by Patrick McHenry on May 29, 2023, to implement the agreement ...
Specifically, the bill “directs the Internal Revenue Service (IRS) to establish a Community Volunteer Income Tax Assistance Matching Grant Program to provide matching funds for the development, expansion, or continuation of tax preparation programs to assist low-income taxpayers and members of under-served populations.”