INSIDER
The number of Americans filing for jobless benefits falls as labor market remains sturdy
Read full article: The number of Americans filing for jobless benefits falls as labor market remains sturdyApplications for U.S. jobless benefits fell last week as the labor market remains sturdy ahead of an expected purge of federal government employees.
Waiting for a stimulus check? Better Business Bureau warns of taxpayer scam
Read full article: Waiting for a stimulus check? Better Business Bureau warns of taxpayer scamIn December, the Internal Revenue Service announced it would send payments to eligible taxpayers who didnโt receive one or more stimulus checks during the pandemic. Now, fraudsters are impersonating the IRS to steal info, says the Better Business Bureau.
Navigating tax season: New changes to be aware of, expert tips
Read full article: Navigating tax season: New changes to be aware of, expert tipsAs the tax filing deadline approaches, many Americans are preparing to submit their returns. News 6 anchor Lisa Bell recently spoke with an expert to discuss what taxpayers need to know this year.
โSignificant impact:โ Orlando IRS staff laid off with tax season underway
Read full article: โSignificant impact:โ Orlando IRS staff laid off with tax season underwayThe National Treasury Employees Union and former IRS employees say around 100 or 1/3 of employees at the Orlando offices received their termination letter on Wednesday or Thursday. Why workers say this could impact you.
IRS workers involved in 2025 tax season can't take buyout until after the taxpayer filing deadline
Read full article: IRS workers involved in 2025 tax season can't take buyout until after the taxpayer filing deadlineIRS employees involved in the 2025 tax season will not be allowed to accept a buyout offer from the Trump administration until after the taxpayer filing deadline.
Elon Musk creates confusion about IRS' Direct File โ but the free tax program is still available
Read full article: Elon Musk creates confusion about IRS' Direct File โ but the free tax program is still availableBillionaire tech mogul Elon Musk posted on his social media site that he has โdeletedโ 18F, a government agency that worked on technology projects such as the IRS's Direct File program.
IRS warns taxpayers about ghost preparers promising big refunds
Read full article: IRS warns taxpayers about ghost preparers promising big refundsAs tax season begins, the IRS is warning taxpayers about ghost preparers - individuals who complete tax returns for others but refuse to sign them or provide an official identification number.
Scott Bessent confirmed as treasury secretary, giving him a key role in extending Trump's tax cuts
Read full article: Scott Bessent confirmed as treasury secretary, giving him a key role in extending Trump's tax cutsThe U.S. Senate has confirmed billionaire investor Scott Bessent as President Donald Trumpโs treasury secretary.
A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?
Read full article: A million taxpayers will soon receive up to $1,400 from the IRS. Who are they and why now?Approximately 1 million taxpayers will automatically receive special payments of up to $1,400 from the IRS in the coming weeks.
Central Florida tax preparers plead guilty to fraud charges
Read full article: Central Florida tax preparers plead guilty to fraud chargesThree tax preparers accused of fraudulently helping Central Florida customers obtain large income tax refunds have pleaded guilty to conspiring to defraud the Internal Revenue Service.
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers
Read full article: Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgersThe IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency says, crediting spending that has ramped up collection enforcement through President Joe Biden's signature climate, health care and tax package signed into law in 2022.
Coca-Cola to pay $6 billion in IRS back taxes case while appealing judge's decision
Read full article: Coca-Cola to pay $6 billion in IRS back taxes case while appealing judge's decisionCoca-Cola Co. says it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court decision in a case dating back 17 years.
Throwback: Anthony Simmonsโ advice on establishing your own Caribbean cashflow
Read full article: Throwback: Anthony Simmonsโ advice on establishing your own Caribbean cashflowCorie Murray takes us back to his interview with Anthony Simmons, president and CEO of Nemiro International Corporation and two other Caribbean-based companies.
Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago tower
Read full article: Report: Trump may face a $100 million-plus tax bill if he loses IRS audit fight over Chicago towerA report by The New York Times and ProPublica says former President Donald Trump may face an IRS bill in excess of $100 million after a government audit indicates he double-dipped on tax losses tied to a Chicago skyscraper.
Central Florida tax preparers arrested on federal fraud charges
Read full article: Central Florida tax preparers arrested on federal fraud chargesOwners and employees of a Central Florida tax preparation company have been arrested on federal charges for allegedly filing fraudulent tax returns on behalf of customers between 2017 and 2020, court records show.
โIt should not be on the taxpayers:โ Deltona hit with nearly $1 million IRS bill
Read full article: โIt should not be on the taxpayers:โ Deltona hit with nearly $1 million IRS billCity leaders in Deltona are working through litigation with the IRS after the agency gave the city a nearly $1 million fine.
IRS acts to address wide disparity in audit rates between Black taxpayers and other filers
Read full article: IRS acts to address wide disparity in audit rates between Black taxpayers and other filersThe IRS says it's taken steps to address a wide disparity in audit rates between Black taxpayers and others filers.
โThe clock is tickingโ to file taxes ahead of looming deadline, expert says
Read full article: โThe clock is tickingโ to file taxes ahead of looming deadline, expert saysIf you are not requesting an extension, the deadline to file your taxes is Monday, April 15. However, an extension to file your taxes is not an extension to pay.
IRS commissioner says new Direct File tax program is โvery secureโ
Read full article: IRS commissioner says new Direct File tax program is โvery secureโThe 12-state Direct File pilot program launched by the IRS in March will potentially serve more than 12 million taxpayers, 2.4 million in Florida alone.
How freelancers can prepare for changing tax requirements
Read full article: How freelancers can prepare for changing tax requirementsIf youโre a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.
โReedy Creek failedโ: Hundreds of district employees owe over $2M in back taxes
Read full article: โReedy Creek failedโ: Hundreds of district employees owe over $2M in back taxesIn a letter to the IRS, district officials explained that Disney theme park passes and discounts given to employees weren't properly reported as taxable benefits.
Janet Yellen is heading to Mexico after Treasury launches a new fentanyl trafficking strike force
Read full article: Janet Yellen is heading to Mexico after Treasury launches a new fentanyl trafficking strike forceTreasury Secretary Janet Yellen is heading to Mexico this week, a trip announced shortly after her agency created a new strike force to help combat illicit fentanyl trafficking.
Treasury's Yellen calls Republican effort to cut IRS funding for Israel 'damaging and irresponsible'
Read full article: Treasury's Yellen calls Republican effort to cut IRS funding for Israel 'damaging and irresponsible'The IRS commissioner says for the agency to keep building on its customer service and enforcement priorities it needs a reliable funding stream.
โTaylor Tax:โ IRS targets Taylor Swift fans over ticket sales, Florida CFO says
Read full article: โTaylor Tax:โ IRS targets Taylor Swift fans over ticket sales, Florida CFO saysFans who sold tickets for over $600 could be audited by the IRS if they donโt report any of the profits, according to Florida Chief Financial Officer Jimmy Patronis.
Democrats accuse tax prep firms of undermining new IRS effort on electronic free file tax returns
Read full article: Democrats accuse tax prep firms of undermining new IRS effort on electronic free file tax returnsCongressional Democrats are accusing big tax preparation firms including Intuit and H&R Block of undermining the federal governmentโs upcoming electronic free file tax return system.
House Republicans subpoena IRS and FBI agents involved in Hunter Biden case
Read full article: House Republicans subpoena IRS and FBI agents involved in Hunter Biden caseHouse Republicans have subpoenaed several FBI and IRS agents involved in the federal investigation into Joe Bidenโs son Hunter Biden.
Central Florida woman sentenced to a year in federal prison for PPP fraud
Read full article: Central Florida woman sentenced to a year in federal prison for PPP fraudA Central Florida woman was sentenced to 12 months in prison for wire fraud โpart of a scheme to defraud the Paycheck Protection Program (PPP) out of loan proceeds,โ according to a news release.
โTrains, planes and packages:โ Multi-state drug trafficking investigation detailed in Orlando
Read full article: โTrains, planes and packages:โ Multi-state drug trafficking investigation detailed in OrlandoU.S. Attorney for the Middle District of Florida Roger Handberg hosted special agents of the Drug Enforcement Administration and Internal Revenue Service in Orlando for a Thursday news conference to announce the takedown of members in a yearslong, California-sourced drug trafficking conspiracy.
IRS whistleblowers air claims to Congress about 'slow-walking' of the Hunter Biden case
Read full article: IRS whistleblowers air claims to Congress about 'slow-walking' of the Hunter Biden caseHouse Republicans are raising unsubstantiated allegations against President Joe Biden over his familyโs finances.
Florida launches IRS Transparency Portal to track possible discrimination
Read full article: Florida launches IRS Transparency Portal to track possible discriminationFlorida Chief Financial Officer Jimmy Patronis announced on Thursday the launch of the Florida IRS Transparency Portal, which is meant to help state officials track possible discrimination by the IRS.
3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers say
Read full article: 3 tax prep firms shared 'extraordinarily sensitive' data about taxpayers with Meta, lawmakers saySome congressional Democrats say three large tax preparation firms sent โextraordinarily sensitiveโ information on tens of millions of taxpayers to Facebook parent company Meta over at least two years.
IRS Maitland, FL Taxpayer Assistance Center moves to Orange Avenue in Orlando
Read full article: IRS Maitland, FL Taxpayer Assistance Center moves to Orange Avenue in OrlandoThe Internal Revenue Service told News 6 the Taxpayer Assistance Center in Maitland, FL, has moved to 201 South Orange Ave. in Orlando, FL 32801.
GOP releases testimony of whistleblowers claiming interference in Hunter Biden case
Read full article: GOP releases testimony of whistleblowers claiming interference in Hunter Biden caseHouse Republicans have released testimony from two IRS whistleblowers who allege that the Justice Department interfered with their yearslong investigation into President Joe Bidenโs son, Hunter.
IRS agent alleges Hunter Biden probe is being mishandled
Read full article: IRS agent alleges Hunter Biden probe is being mishandledAn IRS special agent is seeking whistleblower protection to disclose information regarding what the agent contends is mishandling of an investigation into President Joe Bidenโs son, Hunter Biden.
Look out for robocalls offering bogus tax help this week in Florida
Read full article: Look out for robocalls offering bogus tax help this week in FloridaWith the 2023 tax deadline upon us, the IRS and tax assistance imposters are connecting with residents across the state with the help of scripted robocalls.
New push on US-run free electronic tax-filing system for all
Read full article: New push on US-run free electronic tax-filing system for allItโs that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesdayโs filing deadline, and many often pay to use software from private companies such as Intuit and H&R Block.
New IRS leader promises faster, easier tax filing process
Read full article: New IRS leader promises faster, easier tax filing processThe Internal Revenue Serviceโs new commissioner promises that with billions in new funding, the agency will be faster, more service-focused and tech- savvy and will provide โreal-world improvementsโ to taxpayers.
Youโve filed your taxes -- now, what should you do with those documents?
Read full article: Youโve filed your taxes -- now, what should you do with those documents?If youโve finally gotten your taxes filed, youโre probably ready to put it all away and move on. Have you considered which documents you should keep? And for how long?
For donors, wartime Ukraine aid creates blurry ethical line
Read full article: For donors, wartime Ukraine aid creates blurry ethical lineSince Russia invaded Ukraine a year ago, U.S. companies, nonprofits and individuals have responded with donations, including of equipment like bulletproof vests and drones.
5 things you should know if youโre filing taxes for the first time
Read full article: 5 things you should know if youโre filing taxes for the first timeIf you grew up watching your parents get stressed around tax season, then you're probably not looking forward to filing yourself for the first time.
EXPLAINER: What's the debate over releasing Trump's taxes?
Read full article: EXPLAINER: What's the debate over releasing Trump's taxes?Now that the Democratic-controlled House Ways and Means Committee has voted to release former President Donald Trumpโs tax returns, there's the potential of additional revelations in the coming days related to the finances of the longtime businessman.
IRS ups standard deductions, tax brackets due to inflation
Read full article: IRS ups standard deductions, tax brackets due to inflationTaxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation.
Yellen tells IRS to develop modernization plan in 6 months
Read full article: Yellen tells IRS to develop modernization plan in 6 monthsTreasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will modernize its technology, customer service and hiring.
IRS warns promises of big tax refunds could lead to an audit
Read full article: IRS warns promises of big tax refunds could lead to an auditThe IRS Criminal Investigations Division reported a staggering $2.19 billion dollars in tax fraud with an 89.4% conviction rate, according to its 2021 annual report.
5 situations in which pets can be used for tax breaks
Read full article: 5 situations in which pets can be used for tax breaksFor those animal lovers who spend so much money on their pets and hope to recoup some of that cash spent when tax season arrives, this is the cold, hard reality: For the most part, you canโt.
IRS unit gets no funds to enforce sanctions on rich Russians
Read full article: IRS unit gets no funds to enforce sanctions on rich RussiansThe IRS criminal investigation arm tasked with tracking down sanctioned Russian oligarchs' property failed to receive an infusion of money in the Ukraine aid package.
Quiz: How much do you know about income tax?
Read full article: Quiz: How much do you know about income tax?You likely know what โincomeโ means, and of course youโre aware of federal and state taxes, and the fact that we have to do them (or have them prepared for us, in some cases), every year. But how much do you know about income tax overall?
9+ deductions you should be making if you are self-employed
Read full article: 9+ deductions you should be making if you are self-employedWhether youโre new to owning your own business or a seasoned vet, taxes can be so stressful. Itโs easy to overlook things or simply forget an item here and there.
Traded cryptocurrency in 2021? Here's how to approach taxes
Read full article: Traded cryptocurrency in 2021? Here's how to approach taxesAlternative finance has captured the attention of investors across the U.S. As the 2022 tax season approaches, traders who are new to cryptocurrency taxation will have to contend with the IRSโ rules for reporting on taxable events.
Feds launch website for claiming part 2 of child tax credit
Read full article: Feds launch website for claiming part 2 of child tax creditThe White House and Treasury Department launched a revamped Child Tax Credit website meant to help people who were eligible for the expanded tax credit under last yearโs pandemic relief bill claim the second half of the payment they were due.
$25M fraud scheme involving Orlando sisters featured in IRSโ most-shocking cases of 2021
Read full article: $25M fraud scheme involving Orlando sisters featured in IRSโ most-shocking cases of 2021The case of two Orange County women convicted of a four-year multimillion-dollar tax fraud conspiracy was highlighted by the Internal Revenue Service as a one of the most high-profile investigations of 2021.
Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributions
Read full article: Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributionsFor those who plan on donating to a charitable organization for Giving Tuesday, there could be some opportunities to receive money back when filing taxes next year.