The standard deduction rises up to $15,000 for single and $30,000 for married taxpayers. The Internal Revenue Service (IRS) updated its standard deductions for U.S. taxpayers in 2025,…
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Connecticut Joins IRS Direct File Program for 2025
Secretary Yellen talks about the successful pilot of the program this year. The Internal Revenue Service (IRS) announced Friday that Connecticut has opted into its Direct File service…
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IRS Reaches $1 Billion Milestone for Wealthy Back-Tax Collection
The agency is working to increase transparency of how is uses federal funds to address tax evasion. The Internal Revenue Service (IRS) announced Thursday that is has reached…
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Defense Contractor Charged with Tax Evasion
Douglas Edelman operated offshore bank accounts and falsely testified before House regarding income of over $350 Million. The Department of Justice (DOJ) recently unsealed its indictment against Douglas…
Read MoreIRS Exceeds Taxpayer Assistance Response Goals
Secretary Yellen seeks to maintain Congressional investment. The Internal Revenue Service (IRS) said this week that the agency exceeded its taxpayer response goals for the year. They attribute…
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President Submits Spending Proposal for 2025
He projects slower increases in funding over 10 years with increases in wealth taxes. President Joe Biden released his proposed budget for the 2025 fiscal year on Monday.…
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IRS Offers New Electronic Tax Filing System
The IRS commissioner recently testified before a House committee regarding Direct File. The Internal Revenue Service (IRS) has released the pilot version of the agency’s updated electronic tax…
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IRS Improves Phone Service Levels in Current Tax Season
The agency seeks to show the efficacy of additional funding. The Internal Revenue Service (IRS) has shown improved phone response metrics as the tax season kicks off, reportedly…
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FTC Files Complaint Against H&R Block for Deceptive Marketing
The company also deleted users’ tax information when they sought a lower-cost filing option. The Federal Trade Commission (FTC) is pursuing action against H&R Block for deceptive marketing…
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IRS to Begin Audits of CEO Company Jet Use
The agency will review business expense claims for private travel. The Internal Revenue Service (IRS) announced that they are proceeding with tax audits to review the accuracy of…
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