Some of America’s largest tax-prep companies have spent years sharing Americans’ sensitive financial data with tech titans including Meta and Google in a potential violation of federal law — data that in some cases was misused for targeted advertising, according to a seven-month congressional investigation.
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The debt ceiling deal in Washington did not set off a celebration in the stock market. But the bipartisan compromise is causing fireworks for some companies that have emerged as winners.
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Internal Revenue Service Commissioner Daniel Werfel acknowledged in a letter to the US Senate on Monday that Black taxpayers are audited at significantly higher rates than non-Black taxpayers, a revelation he said has left the agency “deeply concerned.”
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The strength of the US economy rests on the shoulders of consumers. If people are spending money, companies keep employees in their jobs … and those workers keep spending. In theory, anyway.
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A Corona tax preparer accused of filing fraudulent returns over a five-year span was free on bond Wednesday.
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California is extending the state tax filing and payment due dates to Oct. 16 for Californians impacted by this winter’s storms, aligning with the IRS, which previously extended the federal tax filing deadline to Oct. 16 for the same reason.
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The IRS will start accepting 2022 federal income tax returns on January 23.
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The IRS on Friday announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023.
