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You can try the IRS alternative to Turbo Tax in 12 states today
The IRS has released a pilot program called Direct File that gives users free, step-by-step instructions for filing their taxes.
IRS will start piloting its free TurboTax alternative in 2024
The US tax authority has announced that it will start pilot testing its new Direct File program for the 2024 filing season, though it will initially be available for select taxpayers in 13 states only.
Microsoft reveals IRS notice asking for $28.9 billion in back taxes
Microsoft owes the Internal Revenue Service (IRS) $28.9 billion in back taxes, not including penalties and interest, at least according to the tax authority.
EV buyers may get an instant rebate for car purchases starting in 2024
Car dealers can give buyers an instant rebate for purchasing certain electric vehicles starting in January of 2024, according to new guidance released by the IRS.
The IRS wants to phase out most IRL tax documents by 2025
Most taxpayers will have the option of going entirely paperless starting with the 2024 filing season. The IRS said today that it aims to “achieve paperless processing for all tax returns” by 2025. The agency says the IRS Paperless Processing Initiative will “eliminate up to 200 million pieces of paper annually, cut processing times in half and expedite refunds by several weeks.” The project is funded by President Biden’s Inflation Reduction Act of 2022.
The IRS reportedly has a free TurboTax alternative in the works
A test of the project may offer a free alternative to Turbotax as soon as next year.
Stricter guidance means fewer EVs will qualify for $7,500 federal tax credit
The US Treasury Department issued updated guidance today about which electric vehicles qualify for the federal $7,500 EV tax credit under the Inflation Reduction Act (IRA) that President Biden signed last year. Although the new guidelines add more confusion than clarity, it’s evident that fewer EVs will be eligible.
Tesla's five-seat Model Y and other EVs now qualify for the new $7,500 federal tax credit
More versions of Tesla's Model Y and four other EVs now qualify for the new $7,500 federal tax credit thanks to the Treasury.
Tax prep websites have been sending sensitive financial data to Facebook
Tax websites like H&R Block have been sending users' sensitive financial data to Facebook, including incomes.
The IRS says it accidentally exposed confidential information involving 120,000 taxpayers
Their data was made available for download on the IRS website.
You can now delete your selfies from ID.me’s website
The IRS backed away from its requirement that taxpayers submit selfies to verify identity.
The IRS will let taxpayers authenticate their identity without using facial recognition
The IRS has announced that users can opt for a live, virtual interview to authenticate their identity instead of registering for an ID.me account.
IRS says it will back away from facial recognition amid outcry
The IRS has told Senator Ron Wyden it will back away from facial recognition tech following pressure from politicians and other critics.
House Democrats urge IRS to halt facial recognition plans
House Democrats have sent a letter urging the IRS to drop its plans to use facial recognition technology.
Republican Senators raise concerns about IRS use of ID.me facial recognition
They sent the Internal Revenue Service a letter expressing privacy and security concerns.
Treasury reconsiders IRS use of ID.me facial recognition amid privacy concerns
The Treasury Department is reconsidering the Internal Revenue Service’s use of ID.me for access to its website, according to Bloomberg.
The Treasury Department is buying sensitive app data for investigations
The Treasury Department has bought sensitive app data for investigations, possibly bypassing due process.
TurboTax creator Intuit leaves the IRS' free tax filing program
TurboTax creator Intuit has left the IRS Free File program over claims the federal tax agency's system is holding it back.
US Treasury may require crypto transfers over $10K to be reported to the IRS
The US Treasury Department wants tax payers to report any cryptocurrency transfer worth $10,000 to the Internal Revenue Service.
Crypto exchange Binance faces US money laundering probe
Binance, the world's leading cryptocurrency exchange, is reportedly being probed by the DoJ and IRS amid allegations that it is being used to launder money.
