They received a letter specifying May 15 as the date key positions are eligible. Employees at the Internal Revenue Service received notice last week informing them that they…
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FTC Finalizes Settlement with H&R Block Over Unfair Practices
The tax prep company was ordered to repay $7 million to customers, downgrade processes, and improve transparency. The Federal Trade Commission (FTC) finalized a settlement requiring H&R Block…
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Senators Introduces Bill to Increase Tax Deductions on Charitable Donations
The Charitable Act receives bipartisan support. Senators James Lankford of Oklahoma and Chris Coons of Delaware recently introduced the Charitable Act which is receiving bipartisan support. The legislation…
Read MoreIRS Outlines Inflation-Adjusted Deductions for 2025 Tax Year
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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Nearly Half of States to Participate in IRS’ Direct File in 2025
The free online service will be available to more than 30 million in 2025. The Internal Revenue Service (IRS) announced that over 30 million taxpayers are eligible for…
Read MoreIRS 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…
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North Carolina Joins IRS Direct File Program
It is the 6th state to participate in the free federal tax filing tool. North Carolina joined the Internal Revenue Service (IRS) Direct File program last week, becoming…
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Treasury Department Proposes Tax Accountability for Business Partnerships
The department moves to address the “basis shifting” of business partnerships to lower tax brackets. The Treasury Department proposed new rules this week to hold high-profile tax evasion…
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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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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