As the 2024 presidential election draws closer, a fringe property rights organization has become increasingly brazen in flouting its tax-exempt nonprofit status, openly opposing Democratic nominee Kamala Harris and attacking her as a “Marxist” and a socialist. In a fundraising email sent Aug. 17, the right-wing American Stewards of Liberty described Harris and her running … Read more
Former President Donald Trump used a dubious accounting maneuver to claim improper tax breaks from his troubled Chicago tower, according to an IRS inquiry uncovered by The New York Times and ProPublica. Losing a yearslong audit battle over the claim could mean a tax bill of more than $100 million. The 92-story, glass-sheathed skyscraper along … Read more
IRS Commissioner Danny Werfel may not expect taxpayers to actually enjoy dealing with the nation’s tax collection agency, but he thinks that it’s at least becoming much easier and simpler for them. Taxpayers are getting more options to file; they’re getting real-time information about their refunds and receiving them sooner; and they’re spending less time … Read more
Former President Donald Trump, facing mounting legal bills, has lately taken to hawking various items other presidential candidates would have turned their noses up at, like sneakers and country music-themed Bibles. But at a time when Trump appears cash-strapped, which he denies, the most recent hard data on how he supports himself goes back to … Read more
Counties with a higher proportion of low-income or residents who are Black or Hispanic are more likely to also have storefront offices of paid tax preparers, according to a new report. Paid preparers can often make mistakes in filing that can lead to errors or smaller refunds, and often leverage their services to charge high … Read more
The Federal Trade Commission (FTC) ruled on Monday that the maker of TurboTax is deceiving customers when it claims a version its online tax filing software is free, when most customers would have to pay for it. The FTC’s opinion states that Intuit’s TurboTax Free Edition, marketed as a stripped-down version of its paid software … Read more
