All articles tagged with #irs
Guidance from the IRS and Treasury says contributions to Trump Accounts are not subject to gift tax reporting under the safe harbor, allowing up to $5,000 a year in after-tax dollars per recipient and counting toward the 2026 $19,000 annual exclusion; 530A accounts for under-18s also feature a $1,000 pilot program for newborns 2025–2028, with over 6 million children already enrolled.
A National Taxpayer Advocate report shows the IRS often leaves taxpayers waiting on hold for minutes to hours during tax season, with about 21% of 48 million calls answered and some lines averaging 30+ minutes, while experiences vary by department. The piece personalizes this with a reader’s ordeal filing a final return for a deceased mother: repeated calls, long holds (including an 8‑hour stretch), conflicting guidance from agents, and “courtesy disconnects,” underscoring systemic access problems. It also notes strategies to improve experiences, such as calling during peak tax season, times of the week when waits are shorter, calling early, and using accountants for priority lines.
Tax experts and former IRS officials told a Miami judge that the DOJ’s immunity deal shielding Donald Trump, his family, and his businesses from audits or federal probes tied to past filings violates the Constitution’s ban on non-salary compensation, a finding that could save Trump roughly $100 million and raises questions about DOJ’s handling of the tax-leak case.
Several Republican senators say they have questions about the DOJ’s deal shielding Donald Trump, his family, and his businesses from IRS audits of past tax filings, a move that could affect Todd Blanche’s confirmation; some want amendments or more details, including whether the immunity is retroactive or could cover future audits, while the White House defends the arrangement and Senate Republicans weigh how to proceed.
Trump’s private lawyers defended the Florida IRS settlement that created an “Anti-Weaponization Fund,” arguing it wasn’t evidence of collusion and that the case was properly dismissed; they said settlement terms should not be revisited, even as lawmakers criticized the deal and 35 former federal judges urged the judge to reopen the case.
President Donald Trump defended the $1.8 billion Anti-Weaponization Fund on NBC's Meet the Press, urging Congress to approve a settlement with the IRS tied to a DOJ-led dispute over leaked tax returns; the fund has faced bipartisan backlash as critics call it a slush fund for allies connected to January 6. A Virginia judge temporarily blocked payouts as legal challenges continue, and Senate Republicans recently advanced a separate immigration bill that included language addressing the fund.
At a Senate Finance Committee hearing, Treasury Secretary Scott Bessent said he is performing the duties of the IRS commissioner, not acting in the role, after taking over duties in March. Democrats pressed for clarity on his authority and whether others affected by a former IRS contractor’s leaked returns would receive the same immunity tied to Trump’s settlement. The DOJ indicated a planned $1.8 billion ‘anti-weaponization’ fund would not proceed, and emphasized ongoing litigation governs protections for those taxpayers.
Trump moves to drop the $1.8 billion fund meant to compensate victims of what allies call government weaponization, while the deal still preserves immunity from tax-related probes into his past filings; a DOJ official said the fund won’t move forward, even as the broader agreement remains under litigation and has faced a court pause.
The acting U.S. attorney general said the DOJ will not move forward with the proposed $1.8 billion fund to compensate Trump allies, which many viewed as a response to concerns about government weaponization. The administration will, however, continue the agreement that protects Trump and related entities from audits on tax matters as part of a settlement tied to an IRS tax-return leakage case. The fund faced bipartisan opposition and court scrutiny, and while scrapped, victims may still pursue compensation through administrative claims against the government, with some defendants (including January 6 cases) potentially receiving settlements.
A U.S. District Judge in Miami ordered Donald Trump and the other plaintiffs in the IRS settlement case to answer three allegations—collusion/adverseness, deception in the dismissal, and possible fraud—regarding the $1.776 billion “anti-weaponization” slush fund and potential relief of up to $100 million in back taxes, signaling a rare clash between the judiciary and the executive; Trump must respond by June 12, with potential appeals or DOJ intervention as observers watch for how the case unfolds.
The White House says President Trump is in excellent health after a routine medical check, though doctors urge weight loss; separately, a federal judge has reopened Trump’s $1.8 billion settlement-related IRS case amid claims of collusion and a lack of detail. A class-action suit accuses ICE of dire detention conditions at a Texas facility, while Trump promotes a new “America Is Back” rally after several artists pulled out of concerts. The day’s coverage also includes broader political analysis and related updates.
A Miami judge revived Donald Trump’s $10 billion suit against the IRS after a third-party motion alleged the disclosed settlement and the $1.8 billion anti-weaponization fund were the product of collusion and fraud, ordering an inquiry into the terms and beneficiaries and signaling possible testimony from DOJ officials to determine whether the case should be reopened.
A federal judge ordered President Donald Trump to respond by June 12 to grievous allegations that his deal to settle the IRS lawsuit, financed by a $1.776 billion fund, was the result of fraud on the court; former federal judges urged reopening the case to probe Trump and DOJ conduct, and the settlement also bars investigations into his past tax returns—a setup critics call a slush fund for his allies.
A federal judge ordered President Trump’s lawyers to respond to allegations that an unusual settlement ending their IRS lawsuit—creating a $1.8 billion fund for people who say the justice system is weaponized—constituted fraud, asking why the agreement was an appropriate resolution.
U.S. District Judge Kathleen Williams is weighing whether Trump’s lawsuit against the IRS was a pretext to force a settlement that created a roughly $1.8 billion 'anti-weaponization' fund for victims tied to government weaponization, after 35 former judges urged reopening the case to probe possible misconduct and improper purpose; the fund has drawn bipartisan backlash and litigation to block it, and DOJ/IRS filings related to the suit were not submitted in response.