IRS

As President Biden’s $1.75 trillion spending bill advances to the Senate, Republicans are issuing dire warnings about an aggressive IRS tax enforcement proposal that will be a key factor in determining whether the expansive legislation’s costs are fully covered.

The sweeping social spending and climate bill that House Democrats passed on Friday morning includes a temporary repeal of a Trump-era limit on the state and local tax deduction – a policy that would deliver huge windfalls to the wealthy while providing almost no benefit to middle-class Americans.

The nonpartisan Congressional Budget Office estimated Thursday that President Biden’s social spending bill will add $367 billion to the federal deficit over the next 10 years, without counting potential revenue from an IRS tax enforcement crackdown that White House officials claim will cover the remaining cost.

The Internal Revenue Service could soon get a massive infusion of cash to help it track down wealthy tax cheats.

Enhanced IRS tax enforcement provisions included in President Biden’s social spending bill will cause audits to double over the next 10 years, according to a Republican memo distributed by House Minority Leader Kevin McCarthy, R-Calif., to GOP lawmakers on Thursday morning.

Millions of parents across the U.S. can expect to receive some extra cash this week, when the IRS will start distributing the fifth round of payments from the expanded child tax credit.

Congress passed a bipartisan $1.2 trillion infrastructure bill on Friday that includes a controversial new cryptocurrency tax requirement, despite months of aggressive lobbying by industry groups as they looked to fend over stricter regulatory oversight.

Democrats are angling to repeal a Trump-era limit on state and local tax deductions as part of President Biden's signature spending plan, but a new analysis shows how the bulk of the proposal would benefit wealthy Americans.

Youngkin’s tax disclosures were reviewed over the weekend, giving a peek into the soon-to-be governor’s financial history.

Every day Americans and small businesses across the country will inevitably get caught in the crosshairs if this ill-advised proposal ever becomes law.

Workers will be able to set aside more money for their 401(k) plans in 2022, the Internal Revenue Service announced on Thursday.

Senate Democrats are making a last-minute effort to include a controversial proposal that would force banks to turn over most customers' account information to the Internal Revenue Service in the party's final tax and spending bill after President Biden omitted the measure from a revised framework.

The U.S. would have the highest personal income tax rate in the developed world under a White House proposal that would overhaul the nation's tax code in order to fund President Biden's signature spending plan.

Democrats aim to raise $400 billion in new revenue over the next decade by beefing up the Internal Revenue Service and cracking down on rich tax evaders, a plan that hinges on a revived fear of audits among the wealthy.

Top officials in the House Financial Services Committee on Tuesday called for a hearing to discuss Democratic proposals to tighten IRS regulations in an attempt to prevent tax evasion.