The acting commissioner of the Internal Revenue Service is expected to resign after the agency disclosed that it has agreed to share immigrants’ tax data with Immigration and Customs Enforcement to help identify and deport undocumented immigrants. According to a source familiar with the situation and a statement from the Treasury Department, Melanie Krause is…
Trump layoffs could impact IRS, tax refunds, experts say Tax experts are advising taxpayers to file early to avoid delays as the IRS faces potential layoffs from the Trump administration. IRS hasn’t experienced glitches issuing tax refunds so far, experts say. For the week ending March 7, the average federal income tax refund was $3,324…
The General Services Administration, working with Elon Musk’s Department of Government Efficiency, has notified landlords that federal agencies will be terminating hundreds of leases for offices and buildings in the coming months. A GSA planning document dated March 10 lists the dates when many of the cancellations are expected to go into effect. That does…
Hello! 🙋🏼♀️ I’m Nicole Fallert, and welcome to Tuesday’s Daily Briefing. Don’t fear the worm moon. In today’s news: American stocks take a major tumble The American stock market had its worst day of the year on Monday, when the tech-heavy Nasdaq and broad S&P 500 posted their biggest one-day drop since September 2022. Why? Investors…
The IRS auction of the embattled rapper Tekashi 6ix9ine’s personal belongings started Wednesday afternoon at 1 p.m. ET, with bids anticipated from celebrities and collectors. The auction, hosted by Market Auctions in Lake Worth Beach, Florida, features a range of items—some featured in Tekashi’s iconic music videos. Why It Matters The sale of Tekashi 6ix9ine’s…
“He was in turmoil,” his wife, Kelly Johnson, recalled of that night last spring, in an interview conducted last fall. “We assumed we were done. I was saying, ‘Well, it’s been great. It’s been a nice, but short little ride.’ We thought we were going home.” Mr. Johnson spent the night praying in the living…
President Trump and Vice President JD Vance loudly berated President Volodymyr Zelensky of Ukraine on Friday in an explosive televised shouting match unlike any seen in the Oval Office between an American president and foreign leader in modern times. Mr. Trump and Mr. Vance castigated Mr. Zelensky for not being grateful enough for U.S. support…
WASHINGTON (AP) — Elon Musk’s Department of Government Efficiency is seeking access to troves of sensitive taxpayer data at the IRS, two people familiar with the inner workings of the plan who were not authorized to discuss the matter publicly told The Associated Press on Monday. If successful, Musk and his group would have access…
JUSTIN LANE/POOL/EPA-EFE / Shutterstock / JUSTIN LANE/POOL/EPA-EFE / Shutterstock The 2017 Tax Cuts and Jobs Act (TCJA), signed by then-President Trump, was the most recent major overhaul to the IRS tax code. However, the legislation was criticized — by his opponents — for favoring corporations and wealthy taxpayers at the expense of middle class and…
Tesla (TSLA, Financials) CEO Elon Musk and Vivek Ramaswamy, who would run the Department of Government Efficiency in the Trump administration, are considering a mobile app for free tax filing, according to unidentified sources cited in the Washington Post. The suggested project would be a component of a larger endeavor by the group to save…