The IRS imposed $7 billion in tax penalties on Americans last year following an increase in agency resources under the Biden administration. Small business owners, gig workers, and investors were particularly affected by the heightened penalties and interest rates. Additionally, many taxpayers may be unaware of an imminent tax payment deadline on June 17, which could result in further financial penalties if missed. The IRS is also committing more resources to audits of wealthy Americans sheltering billions of dollars in Puerto Rico amid greater congressional scrutiny of the agency’s enforcement activities.
A surging IRS tax penalty is costing Americans billions - here's how to avoid being hit https://t.co/P7d0tmNscr https://t.co/r6E5bsge4h
A Surging IRS Penalty Is Costing Americans Billions. Here’s How to Avoid It, by @Saunderswsj https://t.co/TvyOE1tP47
IRS warning with one day until major tax deadline https://t.co/cBvg66tjE3 https://t.co/hryyg2hl9a
June 17 tax deadline: Do you need to make a payment to the IRS? https://t.co/VfrM2WcV80
The IRS is warning of a fast-approaching filing deadline that applies to taxpayers in a number of different situations. https://t.co/P3qyj2tTU7
The IRS is committing more resources to audits of wealthy Americans sheltering billions of dollars in Puerto Rico amid greater congressional scrutiny of the agency’s enforcement activities. https://t.co/q6r9mqQvJk
Weekly #IRS Roundup June 3 – June 7, 2024 https://t.co/t6cRqUns1Q #tax #taxes @IRStaxpros https://t.co/tSD1WrVEvG
Some taxpayers may not be aware that they owe the IRS a check on Monday, which could lead to their owing the agency a chunk of change come next April. https://t.co/GW4nbQaTsl
You may owe the IRS money on Monday — skipping payment could cost you hundreds of dollars. https://t.co/ZCyhhjhlrg
Another Biden Administation punishment. They need more of your money - no matter how they get it. Estimated-tax penalties can catch taxpayers by surprise. Here’s what you need to know to avoid them. https://t.co/GiXcUnBAo7 via @WSJ
IRS targets Americans with $7 billion in tax penalties after Biden's agency boost. Small business owners, gig workers, and investors hit hardest by increased penalties and interest rates. https://t.co/dgEUEvRj6C
IRS hit Americans with $7B in tax penalties last year after Biden beefed up agency https://t.co/du3gqQk485 https://t.co/o60ab7Xnbx