Feb 24, 2015, 3:16 pm EDT
There are going to be less IRS audits for taxes filed in 2015.
The number of IRS audits has fallen and only a small percentage of people will have to face one. The government agency audited just 0.86% of all individual tax returns last year. Only 1.1 million taxpayers with income below $200,000 will face an audit and only 34,000 with income over $1 million will face an audit, reports USA Today.
The decrease in IRS audits comes as the organization faces a lowered budget and audits are the lowest in the last decade. IRS Commissioner John Koskinen wants more funding and claims that a lack of audits over a long period of time could hurt the trust of Americans in the system, USA Today notes. Read
Feb 24, 2015, 1:56 pm EDT
Alaska decided to legalize marijuana on Tuesday.
The legalization of marijuana in Alaska makes it the third state to lift a band on the substance. The new laws make it so that people are allowed personal use of the drug. However, it can’t be sold and a person can only own one ounce of it on them at any time, reports Reuters.
The change in marijuana’s status in Alaska also allows people partaking in the drug to grow their own plants. People are allowed six plants a piece and three of them can be flowering. The drug can’t be smoked in public and you must be 21 to use it legally, Reuters notes. Read
Feb 20, 2015, 12:54 pm EDT
Healthcare.gov accidentally made tax season more confusing by sending the wrong form.
The Obama administration revealed that about 800,000 received a form that included faulty premium information. These customers should hold off on filing taxes until they get a new form.
The problem was caused by a computer glitch, wrote the federal health department. “This does not mean that your tax credit was incorrect; this is purely an error in what was printed on the form.” Read
Feb 18, 2015, 5:48 pm EDT
Joseph Clancy has been named as the new Secret Service director.
President Obama chose the veteran to replace Julia Pierson, who resigned last year. Clancy — who’s been with the agency for 27 years — was appointed after Obama and Department of Homeland Security Secretary Jeh Johnson considered a number of internal and external candidates.
Clancy is a controversial choice for the job as a number of security lapses occurred under his command, including a shooting at the White House in 2011. Under his new role, he will be tasked with securing the White House perimeter and securing the safety of the 2016 presidential candidates. Read
Feb 13, 2015, 5:50 pm EDT
The IRS’ phone lines will be busier than ever this weekend.
Tax filing season is upon us and the organization has warned that the telephone wait may not be worth it on Presidents’ Day weekend. IRS Comissioner John Koskinen said calling in this tax season will probably take 30 minutes or more–especially Saturday and Sunday.
“The entire week of the Presidents Day holiday marks a peak time in the number of calls to the IRS,” Koskinen said in a written statement. The IRS has issued a number of budget cuts this year, including $180 million from the overtime and temporary staff budget. Read