Internal Revenue Service

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 […]

Social Security judges face threats to safety

Social Security judges face threats to safety

Judges who hear Social Security disability cases are facing a growing number of violent threats from claimants angry over being denied benefits or frustrated at lengthy delays in processing claims. There were at least 80 threats to kill or harm administrative law judges or staff over the past year — an 18 percent increase over […]

Rangel’s ethics trial begins

Rangel’s ethics trial begins

Rep. Charles Rangel of New York headed the House’s tax-writing committee but acknowledged shortchanging the Internal Revenue Service on his own tax bill. Now, a House ethics panel will judge whether filing an amended tax return and belatedly paying his taxes and other financial and fundraising practices violated the congressional rule book. A rare ethics […]

Republicans plan early assault on health care law

Republicans plan early assault on health care law

Congressional Republicans said on Sunday they plan a full-scale assault against President Barack Obama‘s healthcare overhaul next year but acknowledged it could take until after the 2012 presidential election to repeal it. Representative Paul Ryan, expected to become chairman of the House Budget Committee chairman, said his fellow Republicans will try to deny funding for […]

Rand Paul hedges on tax code revamp

Rand Paul hedges on tax code revamp

Republican U.S. Senate candidate Rand Paul sidestepped questions Wednesday about revamping the federal tax code, a day after the tea party favorite took a stand to replace the income tax with a national sales tax. Paul, a limited-government advocate, said he supports a “simpler tax code” but wouldn’t offer specifics about his written comments to […]