Trump reportedly wanted IRS to investigate perceived opponents: CBS News Flash Nov. 14, 2022
Former President Donald Trump reportedly wanted the IRS to investigate several of his perceived political foes, including ex-FBI director James Comey. The U.S. Labor Department is investigating a Wisconsin company for allegedly hiring 31 children for dangerous jobs, and Marvel’s “Wakanda Forever” stormed the box office on its opening weekend, raking in about $180 million globally.news.yahoo.com
IRS raises contribution limits for retirement savings plans
Americans will be allowed to contribute more of their money to 401(k) and similar retirement saving plans next year. The IRS said Friday that the maximum contribution that an individual can make in 2023 to a 401(k), 403(b) and most 457 plans will be $22,500. The IRS also raised the 2023 annual contribution limits on individual retirement arrangements, or IRAs, to $6,500, up from $6,000 this year.news.yahoo.com
New IRS federal income tax brackets for 2023: Where do you land?
The IRS has unveiled federal income tax brackets and other tax changes for the 2023 tax year. The agency tweaks multiple tax provisions annually to account for inflation, including tax brackets. While tax rates remain the same, the income limits that apply to each rate have been adjusted. The 2023 changes generally apply to tax returns filed in 2024, the IRS said. You can get more information about all of the inflation-related tax changes on the IRS website.mlive.com
Probe into Shirkey-tied nonprofits continues; $2.33M conciliation agreement declined
It had only $715,000 COH on Jan. 1, 2020, though gave Unlock Michigan $1.78 million in 2020. “MCFR and MMM made 15 separate contributions to Unlock Michigan and – within days of those deposits – Unlock Michigan made 11 payments to an outside signature-gathering firm,” LaBrant said Monday. The PAC had only $172,00 COH on Jan. 1, 2020, but gave Unlock Michigan $550,000 in 2020. A total of 85% of Michigan Citizens for Fiscal Responsibility grants went to Unlock Michigan, while 95% percent of Michigan! grants went to Unlock Michigan.mlive.com
Oakland County attorney took $6.5M from client, told her he used it to settle IRS issue, feds say
A tax attorney from Oakland County was hired by a business owner to help her settle an IRS investigation, but he convinced her she owed $6.5 million more than she actually did so he could put that money in his own Swiss bank account, federal officials said.
Prosecutors open investigation into whether Kwame Kilpatrick is paying $1.7 he owes Detroit, IRS
Former Detroit Mayor Kwame Kilpatrick’s name is back on a federal court docket after prosecutors opened an investigation into whether he’s been paying the nearly $2 million he owes to the city and the IRS.
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.