federal taxes

The Internal Revenue Service says that beefed up customer service is resulting in fewer hiccups this tax filing season. More than 71 million Americans have already filed taxes this spring.

The IRS touts improved customer service and a hassle free filing option

9:50am March 24, 2024

by Scott Horsley

With less than a month before the tax filing deadline, the IRS says tax season is going smoothly. The agency is investing billions of dollars to improve service and beef up tax enforcement.

House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The U.S. government will soon run out of cash to pay its bills unless it can raise or suspend its debt ceiling.

5 things people get wrong about the debt ceiling saga

10:55am May 25, 2023

by Scott Horsley

Did spending by President Biden and the Democrats rack up the country's debt? Is a default the same as a government shutdown? Here are answers to things people often get wrong about the debt ceiling.

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The Internal Revenue Service building is seen in Washington, D.C., on April 5. The IRS got $80 billion in new funding as part of the climate and health care bill passed by Congress on Friday. Most of that money will be used to target wealthier tax evaders

The IRS just got $80 billion to beef up. A big goal? Going after rich tax dodgers

10:10am August 14, 2022

by Scott Horsley

The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.

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A battle over taxes continues to brew as the IRS is seeking to obtain more bank account information, a move strongly opposed by Republicans and the lenders themselves.

Does the IRS really want to spy on your bank account? The latest tax fight, explained

7:50am October 25, 2021

by Scott Horsley

The Biden administration hopes to help fund its agenda by cracking down on tax evasion, but its plan to require more bank information is drawing strong opposition from GOP lawmakers and banks.

Children and teachers from the KU Kids Deanwood Child Care Center complete a mural in celebration of the launch of the child tax credit on July 14 in Washington, D.C. Tens of millions of parents have received their first monthly child tax credit payment,

Economy

You Might Consider Opting Out Of The Child Tax Credit. Here's Why

8:58am July 28, 2021

by Andrea Hsu

The first monthly enhanced child tax credit payment has landed, but some families are now opting out. Here's how to decide whether it makes sense for you.

Morris Pearl, a former managing director at the investment giant BlackRock, is a member of Patriotic Millionaires, a group that advocates for a more equitable tax system.

National

He's Part Of The 1%. And He Thinks His Taxes Aren't High Enough

11:00am October 08, 2020

by Jim Zarroli

The tax code allows wealthy people who live off investment income to pay taxes at a much lower rate than average people who earn salaries.

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A demonstrator celebrated outside the U.S. Supreme Court in 2015 after the court voted to uphold key tax subsidies that are part of the Affordable Care Act. But federal taxes and other measures designed to pay for the health care the ACA provides have not

Want New Taxes To Pay For Health Care? Lessons From The Affordable Care Act

2:53pm November 19, 2019

by Julie Rovner

When passing the ACA, Democrats touted the fact that they had included many measures to pay for the bill's expanded coverage. But nearly 10 years later, Congress has eliminated many of those taxes.

The fatter paychecks that many Americans have been receiving this year may end with a big check to the government come tax time.

More Taxpayers Will Owe The IRS In April Because Of Underwithholding, Report Says

12:08pm August 01, 2018

by Scott Neuman

The Government Accountability Office says 3 million more Americans are likely to have experienced underwithholding from their paychecks in 2018 as a direct result of the new tax law.

Florida Republican Sen. Marco Rubio, shown in July, had threatened a "no" vote on the bill because he wanted a more generous child tax credit for working families. He said Friday he will vote for the measure.

GOP Releases Final Tax Bill As Rubio, Corker Boost Path To Christmas Passage

9:14pm December 15, 2017

by Scott Horsley

The two Republican senators had been holdouts, but now the bill appears on track for passage next week.

Senate Majority Leader Mitch McConnell, R-Ky. (center), gathered the support he needed on Friday to pass the GOP tax bill in the Senate. Now that legislation must be reconciled with the House version.

9 Sticking Points The House And Senate Have to Work Out In Their Tax Bills

3:57pm December 04, 2017

by Scott Horsley

Now that the Senate has passed its own version of a tax bill, lawmakers have to iron out differences with the House bill. The final product could then be sent to the president to be signed into law.