Trump, Tax and Beautiful Bill
Digest more
The IRS has lost 31% of its auditors amid a wave of federal layoffs now paused by court order. Here’s what’s happening.
Billy Long has pledged to improve customer service and protect taxpayer data — two areas where “DOGE” actions have drawn scrutiny.
“This is simply about helping people like Elon Musk pay less in taxes,” said House Democratic Caucus Chairman Pete Aguilar, D-San Bernardino. Musk, an adviser to President Donald Trump, is regarded as the world’s wealthiest person.
A Republican-backed House bill includes a range new tax breaks, including a $4,000 deduction for seniors. Here's what to know.
3d
Money Talks News on MSNTrump's IRS Abolishment Plan Could Transform Tax SystemThe Trump administration is taking concrete steps to eliminate the IRS while proposing tariffs as replacement revenue. Critics and economic experts question whether the math works for this dramatic tax system overhaul.
If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out over $500,000.
An IRS employee told Federal News Network that she was supposed to receive a $1,000 sign-on bonus this summer, but expects she will no longer receive it.
3d
Money Talks News on MSNIRS Loses Thousands of Employees While More Cuts LoomThe IRS has lost over 11% of its workforce through terminations and voluntary resignations. Legal challenges have followed as the tax agency faces more cuts and an indefinite hiring freeze.