Thursday, September 23

IRS

Charitable deduction, Donald Trump, IRS, january 6, look ahead america, original reporting, Politics, Tax exempt status, US Capitol

A pro-Trump group organizing a DC rally for Jan. 6 defendants lost its tax-exempt status — but is still claiming donations are tax-deductible

Matt Braynard worked as a data analyst on the 2016 Trump campaign. His group, Look Ahead America, was founded in 2017 as a nonprofit. But the IRS revoked the group's tax-exempt status after it repeatedly failed to disclose spending. LoadingSomething is loading. A group founded by a former Trump campaign staffer that is organizing a rally this month on behalf of January 6 def...
Finance, hedge fund, IRS, James Simons, Jim Simons, Renaissance Technologies, RenTech, Robert Mercer

Robert Mercer and Renaissance Technologies insiders to pay as much as $7 billion to the IRS in one of the largest federal tax settlements in history

The hedge fund Renaissance Technologies settled with the IRS over a longstanding tax dispute. Per the WSJ, the settlement could total $7 billion, making it one of the largest federal tax settlements in history. Political megadonors Robert Mercer and James Simons will both make payments in the settlement. LoadingSomething is loading. Billionaire hedge fund manager James Simon...
Child tax credit, Child tax credit 2021, DFP, IRS, Personal Finance, Personal Finance Insider, pfi, PFI GOBankingRates, PFI Related Content Module, PFI-XAMP, Tax Credit, Tax Credits, Taxes

An IRS snafu means millions of families who got the child tax credit auto-deposited in July will get paper checks this month instead

Another monthly child tax credit payment is on the way to about 36 million US families. Some 15% of families who got a direct deposit payment in July will receive a paper check in August. The IRS didn't explain why, but said the issue will be resolved by the next payment on September 15. Visit Personal Finance Insider for more stories. The Internal Revenue Service announced Friday that another child tax credit payment — the second of six monthly payments — is on the way to about 36 million families.However, due to an unspecified issue, the IRS said up to 15% of families who received the money in July by direct deposit will be getting a paper check this month...
American Rescue Plan, Coroanavirus, Economy, IRS, Stimulus

The IRS just disbursed 2.2 million more $1400 stimulus payments, but it mostly went to recent tax filers

The IRS just disbursed 2.2 million additional stimulus payments. The majority of these payments went to taxpayers whose information was not previously filed with the IRS. These delayed payments are being gradually distributed amid large tax return backlogs. LoadingSomething is loading. Another 2.2. million Americans will start receiving $1400 s...
Biden stimulus, Child tax credit, Congress, Economy, fourth stimulus check, IRS, Janet Yellen, Joe Biden, Markets, monthly checks, Policy, Politics, Ron Wyden, Sherrod Brown

Sherrod Brown called Janet Yellen, anxious that poor families may be shut out of’Social Security for kids.’ He’s not the only worried Democrat.

Senate Democrats are pressuring Treasury and the IRS to fix the portal for low-income families to get child tax credit cash. Sen. Sherrod Brown called Treasury Secretary Janet Yellen on Wednesday, he told Insider. Other Democrats are demanding the IRS move quickly to ensure non-tax filers can get monthly payments. LoadingSomething is loading. S...