IRS Chief Says Agency Will Get Through Backlog Before December
Millions of Americans were waiting on tax refunds for months in 2021. The IRS is aiming to get them their checks before the end of the year.
Source: businessinsider.com
Rs Payments News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Rs Payments. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Rs Payments Today - Breaking & Trending Today
Meet a Mom Waiting on IRS Refund Who Hasn't Gotten Child Tax Credit
Without a tax return, Rachel Cannistraro, hasn't received the monthly checks for parents that started in July. She's not alone — the IRS is in crisis.
Source: businessinsider.com
The IRS Is Wildly Understaffed, Which Could Mean a Hellish Tax Season
Between mountains of paper and tens of millions of backlogged phone calls, the IRS already has its hands full. Now, it has to handle more.
Source: businessinsider.com
Dysfunctional HMDA website inconveniences users
Fifth crash in six months
Source: deccanchronicle.com
There Could Be up to $1 Trillion in Taxes Not Getting Collected
In a Senate Finance Committee hearing, IRS Commissioner Charles Rettig addressed the tax gap. That's the gap between how much is owed in taxes and what's actually collected. Rettig said the gap could possibly exceed $1 trillion a year, far higher than the official estimate. While the IRS' current official estimate of the tax gap — taxes owed but not collected — is $441 billion, the actual number could be a lot higher. "I think it would not be outlandish to believe that the actual tax gap could approach and possibly exceed $1 trillion...
Source: businessinsider.com