Intuit, Owner of TurboTax, Wins Battle Against America’s Taxpayers
The successful IRS free tax filing program is being wound down, thanks in large part to Intuit’s copious spending in Washington.
IRS collects milestone $1 billion in back taxes from high-wealth taxpayers
The IRS has collected $1 billion in back taxes from high-wealth tax cheats — a milestone meant to showcase how the agency is making use of the money it received as part of the Biden administration’s signature climate, health care and tax package signed into law in 2022. The announcement Thursday comes as the much-maligned agency shows the public how much work it is getting done. In a statement, Treasury Secretary Janet Yellen praises the Inflation Reduction Act for “increasing tax fairness and ensuring that all wealthy taxpayers pay the taxes they owe, just like working families do.”
IRS expects to collect more in overdue and unpaid taxes
The IRS says it expects to collect hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated using funding provided to the agency by the Democrats’ Inflation Reduction Act. That's according to new analysis released Tuesday by the Treasury Department and the IRS. The report says tax revenues are expected to increase by as much as $561 billion from 2024 to 2034, which is substantially more than previous estimates. The Congressional Budget Office in 2022 estimated that tax revenues would increase by $180.4 billion over the 2022 to 2031 period.
Jimbo Fisher Is Why College Sports Need to Lose Tax-Exemption Status
Texas A&M’s $77 million buyout payment to Jimbo Fisher is evidence of an unfair system.
IRS says Microsoft may owe more than $29 billion in back taxes
The Internal Revenue Service says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest. That was revealed by the company Wednesday in a securities filing. That figure, which Microsoft disputes, stems from a long-running IRS probe into how Microsoft allocated its profits among countries and jurisdictions in the years 2004 to 2013. Critics of that practice, known as transfer pricing, argue that companies use it to minimize their tax burden by reporting lower profits in high-tax countries and higher profits in lower-tax jurisdictions. Microsoft said it will appeal the decision within the IRS, a process expected to take several years. The company's shares dropped slightly in aftermarket trading, falling $1.42 to $331.
Despite Republican Freakouts, Michigan To Legalize LIVING TOGETHER, Even For Humans
People can cohabit as 'lewdly and lasciviously' as they want, but may want to close the blinds.
LOL House Republicans' 'Fair Tax' LOLOLOL Rick Santorum Wanking Dot Gif
A Wonkette LOLsplainer.
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