A proposed Trump administration rule aimed at quashing diversity efforts could jeopardize the nonprofit status of private schools. It could take effect in mid-2027.
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Donald Trump’s suit against the IRS and the settlement creating a $1.776 billion Anti-Weaponization Fund to compensate his allies raise important moral and constitutional issues.
New deductions usually introduce new complexities and the need for better recordkeeping.
Most sellers already pay no tax, so the proposal’s benefits would flow to the richest.
There’s only one known instance of a church losing its tax-exempt status because it violated the Johnson Amendment, but Republicans have tried to get rid of it before.
The IRS would need to conduct an audit first. And presidents aren’t allowed to make the IRS do that.
Decisions made by Donald Trump’s administration in its first 100 days will have impacts on people’s lives around the world.
Market swings may be rattling retirement accounts, but panic isn’t the answer. Here’s what to know about how 401(k) accounts work – and when to worry.
The IRS hasn’t issued clear guidance for them yet.
Narrowing the ‘tax gap’ has been a long-standing goal of the government agency.
When for-profit companies are spun out of nonprofits, there is no easy way out of the legal consequences.
The fate of the Tax Cuts and Jobs Act lies in the balance.
Donors often try to conceal their involvement in politics, and campaigns try to hide what they spend their money on.
Some people refuse to file tax returns or pay all of their income tax due to moral or ethical concerns. The IRS warns that they, like more selfish tax scofflaws, may face penalties.
Big changes would require an act of Congress but lawmakers have not stepped up. And there’s been pushback against new rules the IRS has proposed for these accounts reserved for giving.
Standards are vague, and the IRS, which is tasked with enforcement, hasn’t provided much oversight.
The agency hopes to make paying taxes less onerous for the majority of Americans who follow the rules.
The First Amendment, along with a lack of clarity on what counts as an educational mission for charities, can lead authorities to approve applications from extremist groups.
As the US increasingly becomes a cashless society, it’s getting harder to use currency to pay for things – including taxes. One fearless economist gave it a try.
An accounting expert points out that income Americans previously thought was invisible to the IRS will now be tallied up and reported by Venmo and similar apps.
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