President Joe Biden’s call for funding for 87,000 IRS agents to audit Americans has raised questions about whether the new rash of auditing will target poorer Americans or be politically motivated.
The Inflation Reduction Act included $80 billion to beef up IRS efforts, which Biden says will more than pay for itself in new audits.
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The new head of the powerful House Ways and Means Committee blasted the Biden administration for giving few answers after thousands of taxpayer files were leaked to an outside group.
House Ways and Means Chairman Rep. Jason Smith, R-Mo., sent a letter to Russel George, the Treasury Department’s Inspector General for Tax Administration, raising concerns about the leak of “confidential tax information” and the lack of accountability over that leak.
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The House Ways and Means Committee that is controlled by Democrats released six years of former President Donald Trump’s tax returns on Friday.
The New York Post reported the returns cover the years 2015 to 2020. The Trumps reported positive income of $24.3 million in 2018 and $4.4 million in 2019 and had negative income in four of the six years in which tax returns were released.
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Reports indicate as much as $400 billion in COVID-19 unemployment relief were likely lost to waste and fraudsters. Lawmakers want answers.
Republicans on the House Ways and Means Committee sent a letter to the U.S. Department of Labor demanding documents and information related to the unemployment fraud.
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President Donald Trump’s personal attorney is vowing to go to the Supreme Court after a federal appeals court ruled that Trump’s tax returns must be provided to a grand jury in Manhattan as part of a local investigation into a hush-money payment to porn star Stormy Daniels.
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President Donald Trump filed a lawsuit Tuesday to block the House Ways and Means Committee from accessing his New York state tax returns under a new law.
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