EXPLAINER: What's the debate over releasing Trump's taxes?
Now that the Democratic-controlled House Ways and Means Committee has voted to release former President Donald Trump’s tax returns, there's the potential of additional revelations in the coming days related to the finances of the longtime businessman.
Feds launch website for claiming part 2 of child tax credit
The White House and Treasury Department launched a revamped Child Tax Credit website meant to help people who were eligible for the expanded tax credit under last year’s pandemic relief bill claim the second half of the payment they were due.
Leak of billionaires' tax data draws GOP outcry over privacy
Republicans in Congress are alarmed by the leak of confidential IRS data to ProPublica that has enabled the investigative news organization to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times.
IRS extends tax filing deadline to May 17
On Tuesday, more than 100 lawmakers, including four representatives from Virginia, signed a letter asking the IRS to extend the deadline to July 15. With the IRS handling a third-round of stimulus checks and fewer tax service aides available because of the coronavirus pandemic, agencies are feeling the pressure. AdEvery year, Total Action for Progress (TAP) offers free tax filing services. “With a pandemic still hanging over our heads, I would love to get some more time.”To meet in the middle, the IRS set the new deadline date for May 17. But more than 150 million tax returns are expected to be filed this year and with the new deadline, tax refund checks may not arrive until 6 to 8 weeks after filing.
How to track your $1,400 stimulus payment from the IRS
How to track your stimulus paymentWondering where your $1,400 stimulus check is? The IRS has a tool that you can use to track the status of your relief payment. Here’s how you can track your $1,400 checkYou can click here and use the IRS Get My Payment tool here. When you put in your information, you’ll see the following payment statuses:A payment has been processedA payment date is available and payment is to be sent either by direct deposit or mail Note: mail means you may be issued an EIP Card or a check. You’re eligible, but a payment has not been processed and a payment date is not yet availableYou may also see ‘Payment Status Not Available,’ meaning the IRS has not yet processed your payment or you’re not eligible for a paymentAnother status you might see is ‘Need More Information,’ meaning your payment was returned to the IRS because the USPS was unable to deliver itAs a note, you will receive payments quicker if you’re set up for direct deposit with the IRS.