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More than 314,000 taxpayers made inaccurate claims for a popular tax credit that helps pay college expenses, getting $532 million they weren't entitled to receive, a government report said Thursday.
President Barack Obama's choice for a top job in the Treasury Department did not disclose all of her late tax payments until she was repeatedly prodded by Senate investigators, a congressional report issued Wednesday said.
WASHINGTON — More than 15 million taxpayers may owe the government $250 or more because of how the IRS last spring set up President Barack Obama's tax break that was designed to help consumers spend the U.S. economy out of recession.
Missed out on Cash for Clunkers? Congress has another deal for you: Buy a home before May 1 and collect up to $6,500 from the government. If you're a first-time homebuyer, get up to $8,000.
The typical family would be spared higher taxes from the House Democratic plan to overhaul health care, and their low-income neighbors could come out ahead.
Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
Key lawmakers unveiled a bill Tuesday aiming to crack down on wealthy tax dodgers hiding money overseas.
Key congressional leaders want to extend the tax credit for first-time homebuyers beyond its scheduled end-of-November expiration despite complaints of fraud and Obama administration concerns about the costs.
Social Security recipients won't get a cost-of-living increase next year for the first time in more than a third of a century, and that could boost President Barack Obama's plan to send seniors another round of $250 payments before the congressional elections.
There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975.
The Social Security Administration makes it official Thursday: There will be no cost of living increase for Social Security recipients next year, the first year without one since automatic adjustments were adopted in 1975.
There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
The Social Security Administration says there will be no cost of living increase next year for more than 50 million Social Security recipients, the first year without a raise since automatic adjustments were adopted in 1975.
President Barack Obama called on Congress Wednesday to approve $250 payments to more than 50 million seniors to make up for no increase in Social Security next year. The Social Security Administration is scheduled to announce Thursday that there will be no cost of living increase next year. By law, increases are pegged to inflation, which has been negative this year.
Some 7,500 international tax dodgers have applied for an amnesty program that promises no jail time and reduced penalties for tax cheats who come forward, the Internal Revenue Service announced Wednesday.
Confronted with big job losses and no sign the U.S. economy is ready to stand on its own, Democrats are working on a growing list of relief efforts, leaving for later how to pay for them, or whether even to bother.
Dangle some cash and a lot of people are happy to turn in their employers for cheating on their taxes.
Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that's happened since the 1980s.
The IRS said Thursday it will extend a moratorium on collecting penalties from some small businesses that were hit with big fines for not disclosing the use of questionable tax shelters.
Millions of Medicare patients would be spared monthly premium increases next year under a bill passed by the House Thursday.
The IRS announced Wednesday it was severing ties with ACORN, joining a growing list of government agencies to end relationships with the community activist group.
Procrastinating tax cheats will get a few extra weeks to apply for an amnesty program that has been flooded with applications from people who hid assets overseas.
The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults.
The House voted Tuesday to let the struggling U.S. Postal Service cover a budget shortfall by reducing its annual payment to a health care fund for retirees by $4 billion.
The federal government sent about 3,900 economic stimulus payments of $250 each this spring to people who were in no position to use the money to help stimulate the economy: prison inmates.
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