If you lose money in a scam, the IRS might be sympathetic. But the tax agency also wants any taxes that might arise from the fraudulent transaction.
The House subcommittee in charge of IRS funding recommends slashing the agency’s upcoming budget. Is the move motivated by financial necessity or politics?
The IRS faced a Ways and Means hearing on its handling of Tea Party tax-exempt applications. Now Senate Finance and House Oversight members get to ask questions.
Fired commissioner. Congressional hearings. Scathing tax watchdog report. It has been a terrible week for the IRS. And the tough times won’t stop any time soon.