Taxes
  • IRS to Test Free Filing System

    By Michael Rainey

    The IRS announced Tuesday that it will test its direct tax-filing system in a handful of states next year. The tax agency has been working on the free, electronic alternative to paid tax services...

  • Jim Jordan Builds Support Ahead of Speaker Vote

    By Michael Rainey

    With a vote in the full House scheduled for noon on Tuesday, Rep. Jim Jordan is gaining support in his effort to become the next speaker. “I feel real good about the momentum we have and I think we'...

  • Tax Gap Grows to Nearly $700 Billion: IRS

    By Michael Rainey

    The “tax gap” is getting bigger, according to the latest estimate of the amount of money Americans owe in federal taxes but fail to pay. The IRS said Thursday that Americans failed to pay $688...

  • District of Columbia

    Deficit Rises to $1.7 Trillion in 2023: CBO

    By Michael Rainey

    The federal budget deficit totaled $1.7 trillion in fiscal year 2023, about $300 billion (23%) larger than the year before, according to a preliminary analysis released by the Congressional Budget...

  • IRS Freezes Pandemic-Era Tax Credit

    By Michael Rainey

    Amid growing concerns about fraud, the Internal Revenue Service announced on Thursday a moratorium on new claims for the Employee Retention Credit, a refundable tax credit created by Congress in 2020...