IRS

White House Press Secretary Jen Psaki on Thursday reiterated that repealing the $10,000 SALT cap was part of ongoing negotiations on President Biden’s $2 trillion spending bill, but declined to say whether the White House supports the policy.

Some unlucky Americans still need to file their taxes by April 15, even though the IRS last month delayed the main deadline until May 17.

The IRS on Wednesday announced it had sent out another 2 million economic impact payments under the American Rescue Plan, with a focus on Veterans Affairs and Social Security beneficiaries.

Americans who qualify for a new tax break on their 2020 unemployment benefits but who already filed their returns can expect to receive an automatic refund in May, the Internal Revenue Service said.

As much as $1 trillion a year in federal taxes may be going unpaid because of errors, fraud and lack of resources to enforce collections adequately, Internal Revenue Service Commissioner Charles Rettig, told lawmakers Tuesday.

The IRS planned to hire 5,000 customer service representatives to man its phone lines during the busy tax season but encountered "significant hiring challenges during the pandemic," IRS Commissioner Chuck Rettig said Tuesday.

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.