Finance

The RNC has filed a lawsuit against the IRS for withholding records sought by a 2013 Freedom of Information Act request.

Former Secretary of Defense Donald Rumsfeld yesterday made public a letter he said he sends every year to the IRS, along with his tax return.

U.S. taxpayers would need to pay an average of $1,259 more a year to make up the federal and state taxes lost to corporations and individuals sheltering money in overseas tax havens, according to a report.

A pair of senators have called on the Social Security Administration to end the policy of seizing taxpayers’ refunds to hold them accountable for decades-old errors made by the agency that led to the overpayment of benefits, and the agency has agreed to do so.

The House Ways and Means Committee held a hearing last week to discuss the perennial issue of the tax extenders, the temporary tax provisions that expire year after year and are usually renewed.

As the political fight over raising taxes for high-income Americans fades away, so are predictions for negative economic fallout.

President Barack Obama and his wife, Michelle, reported adjusted gross income of $481,098 for 2013, down 21 percent from last year, according to tax returns released yesterday by the White House.

U.S. states are trying to capture corporate income taxes lost to offshore havens, wary of companies exploiting rules that let them channel cash abroad and weary of congressional inaction.

The U.S. Office of Special Counsel has recently investigated several cases in which Internal Revenue Service employees allegedly engaged in partisan political activity in the workplace, advocating in support of President Obama.

The United States is working with other countries on multinational corporate tax issues, including the increasingly thorny issue of base erosion and profit shifting.

The House Committee on Small Business held a hearing to discuss the biggest tax problems for small businesses.

The House Ways and Means Committee voted Wednesday to send a criminal referral letter to Attorney General Eric Holder, asking him to determine whether Lois Lerner, the former director of the Internal Revenue Service’s Exempt Organizations unit, violated the law.

The top lawmakers on the House Ways and Means Committee disagreed over whether extending tax breaks for research and international finance operations should be offset to prevent the U.S. budget deficit from growing.

The Senate Finance Committee held a hearing Tuesday on the subject of incompetent and unethical tax preparers and heard testimony on how the Internal Revenue Service should deal with them.

House Republicans are showing no sign that they’ll move forward legislation the Senate passed restoring benefits for the long-term unemployed.

The Marketplace Fairness Act, which was supposed to finally settle the question of how states can tax online sales, appears to have stalled in Congress after passing the Senate last year.

New York’s top banking regulator is investigating whether Credit Suisse Group AG’s private banking practices resulted in the evasion of state taxes, according to a person with knowledge of the matter.

The Internal Revenue Service paid out $53 million in whistleblower awards last year, a steep decline from the $125 million paid to whistleblowers in 2012, according to an annual report by the IRS Whistleblower Office.

Administering the 2010 health-care law is just like municipal snow shoveling—a top priority that’s non-negotiable, John Koskinen, the commissioner of the U.S. Internal Revenue Service, said Wednesday.

The Senate Finance Committee voted to revive almost all of the 55 tax breaks that expired Dec. 31, providing benefits for wind energy, U.S.-based multinational corporations and motor sports track owners.