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,…
Read MoreTax Payments
Treasury Proposes Minimum Tax Rate for Billion Dollar Companies
The department would implement a 15 percent standard. The Treasury Department announced that it is considering a new tax policy that would require a 15 percent minimum profit…
Read More
IRS and Treasury Department Report on Funds Recovered from Tax Evaders
The treasury secretary announces $1.3 billion recovered from wealthy tax filers and non-filers and other audits. U.S. Treasury Secretary Janet Yellen and Internal Revenue Service (IRS) Commissioner Danny…
Read More
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…
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…
Read More
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…
Read More
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…
Read More
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…
Read More
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…
Read More
Navy Secretary Questions Delays in Weapons Manufacturing
Says routine mismanagement takes advantage of taxpayer money. U.S. Navy Secretary Carlos Del Toro spoke during a presentation at a San Diego naval conference this month about extensive…
Read More