Internal Revenue Service

IRS admits ‘Star Trek’ video parody was a stupid idea

IRS admits ‘Star Trek’ video parody was a stupid idea

Nobody’s going to win an Emmy for a parody of the TV show “Star Trek” filmed by Internal Revenue Service employees at an agency studio in Maryland. Instead, the IRS got a rebuke from Congress for wasting taxpayer dollars. The agency says the video, along with a training video that parodied the TV show “Gilligan’s […]

Senate approves tax, spending deal 89-8

Senate approves tax, spending deal 89-8

Hours past a self-imposed deadline for action, the Senate passed legislation early New Year’s Day to neutralize a fiscal cliff combination of across-the-board tax increases and spending cuts that kicked in at midnight. The pre-dawn vote was a lopsided 89-8. Senate passage set the stage for a final showdown in the House, where a vote […]

Senate, White House reach tentative deal to avert fiscal cliff

Senate, White House reach tentative deal to avert fiscal cliff

Racing the clock, the White House reached a New Year’s Eve accord with Senate Republicans late Monday to block across-the-board tax increases and spending cuts in government programs due to take effect at midnight, according to administration and Senate Democratic officials. Under the deal, taxes would remain steady for the middle class and rise at […]

Budget debate will haunt both parties in election

Budget debate will haunt both parties in election

Democrats and Republicans are forcing votes in Congress this coming week on competing tax plans that affect millionaires and smaller businesses, and they know the proposals are doomed from the start. But that doesn’t matter to either party. Their efforts, including a Senate vote Monday on President Barack Obama’s “Buffett rule” proposal to impose a […]

OK, we relaxed this tax act thingy. Now what?

OK, we relaxed this tax act thingy. Now what?

House Republicans redeemed a campaign promise to repeal President Barack Obama’s health care overhaul, but now must march against the headwinds of a Democratic-controlled Senate and the specter of a White House veto. The GOP owes its newfound control of the House in part to its appeal last fall to voters outraged about the new […]

Tax bill packed with goodies for business

Tax bill packed with goodies for business

The massive new tax bill signed into law by President Barack Obama is filled with all kinds of holiday stocking stuffers for businesses: tax breaks for producing TV shows, grants for putting up windmills, rum subsidies for Puerto Rico and the Virgin Islands. There is even a tax break for people who buy race horses. […]

Surprise waiting for 13.4 million taxpayers in new bill

Surprise waiting for 13.4 million taxpayers in new bill

About 13.4 million taxpayers may be getting unexpected tax bills because they were awarded too much money under President Barack Obama‘s Making Work Pay tax credit, a government audit said Thursday. The tax credit, which expires Jan. 1, was designed to increase take-home pay by about $8 a week through new tax withholding tables. The […]

If you’re rich the IRS is coming to get you

If you’re rich the IRS is coming to get you

The Internal Revenue Service is making it a bit riskier to cheat on your taxes. The tax agency increased the number of returns it audited by nearly 11 percent this year, statistics released Wednesday show. Wealthy taxpayers and big businesses were most likely to be targeted. The IRS also stepped up audits of charities and […]

Ethics Committee recommends censure for Rangel

Ethics Committee recommends censure for Rangel

The House ethics committee on Thursday recommended censure for longtime Rep. Charles Rangel, suggesting that the New York Democrat suffer the embarrassment of standing before his colleagues while receiving an oral rebuke by the speaker for financial and fundraising misconduct. Censure is the most serious congressional discipline short of expulsion. The House, which could change […]

Rangel convicted on 11 ethics violations

Rangel convicted on 11 ethics violations

Rep. Charles Rangel, once one of the most influential House members, was convicted Tuesday on 11 counts of breaking ethics rules and now faces punishment. An ethics panel of eight House peers deliberated over two days before delivering a jarring blow to the 20-term New York Democrat’s career. Rangel was charged with 13 counts of […]