Americans failed to pay record $688 billion in taxes in 2021, IRS says. Look for more audits.
CBSN
Americans failed to pay $688 billion in taxes on their 2021 returns, a record level, according to a new estimate from the IRS. The agency said that it is taking "urgent" steps to increase compliance such as auditing more high-income taxpayers as well as businesses and partnerships.
The $688 billion estimate reflects the first time the IRS is providing information about the so-called tax gap on an annual basis, with the agency noting in a Thursday statement that it plans to continue providing the data on a yearly basis. The number reflects an increase of more than $138 billion from estimates for tax years 2017 to 2019, the agency said.
The IRS is ratcheting up audits on wealthy taxpayers, part of its directive after receiving billions in new funding through the Inflation Reduction Act (IRA). The agency has said it wants to go after higher earners who skirt their tax obligations in order to help close the tax gap and raise more money for federal coffers, which will be used for programs like the IRA's $370 billion in green energy investments.
More employees of the Environmental Protection Agency were informed Wednesday that their jobs appear in doubt. Senior leadership at the EPA held an all-staff meeting to tell individuals that President Trump's executive order, "Ending Radical and Wasteful Government DEI Programs and Preferencing," which was responsible for the closure of the agency's Diversity, Equity, and Inclusion office, will likely lead to the shuttering of the Office of Environmental Justice and External Civil Rights as well.
Democrats on Capitol Hill, and sources familiar with the situation, said the White House's Department of Government Efficiency, or DOGE, has been inside the offices of the National Oceanic and Atmospheric Administration.
At least four cattle herds in Nevada have tested positive for a strain of H5N1 bird flu never before seen in cows, state agriculture officials confirmed Wednesday, and respiratory symptoms like coughing and sneezing have been reported.
In her first hours as attorney general, Pam Bondi issued a broad slate of directives that included a Justice Department review of the prosecutions of President Trump, a reorientation of department work to focus on harsher punishments, actions punishing so-called "sanctuary" cities and an end to diversity initiatives at the department.
Blake Lively faces a second defamation lawsuit after the actor alleged she was sexually harassed while making the movie "It Ends With Us" and subsequently targeted by a coordinated smear campaign.
Foodborne illness kills hundreds of Americans a year, sickens tens of millions annually, and costs billions in medical care, lost productivity and premature deaths, federal researchers said in a report.
Washington — Senate Republicans said Wednesday that they intend to move forward with their own plan to approve key components of President Trump's agenda beginning next week, as the House efforts to start the budget reconciliation process have stalled.
Washington — A federal judge in Maryland on Wednesday temporarily blocked President Trump's executive order seeking to end birthright citizenship from taking effect nationwide, becoming the second to rule against the president amid a rush of legal challenges to his directive.
Some health officials in the U.S. fear the shutdown of U.S. Agency for International Development missions may have disastrous results, as the stalling of foreign aid has forced delays in what they said was the "chaotic" early U.S. response to Uganda's swelling Ebola outbreak.
President Trump's move to tack an additional 10% tariff on U.S. imports from China could lead Mattel to hike the price of its Barbie, Hot Wheels and other toys.
Washington — President Trump on Wednesday is set to sign an executive order to ban transgender girls and women from competing on sports teams that match their gender identity, marking his latest move targeting transgender rights.
The quick-fire volley of tariffs between the U.S. and China in recent days has heightened global fears of a new trade war between the world's two largest economies. Yet while experts think the battle is likely to escalate, they also say the early skirmishes offer hope for an agreement on trade and other key issues that could head off a larger conflict.
A report produced by federal investigators with the U.S. Capitol Police revealed the number of investigations into threats against Congress and the Capitol complex surged to the second-highest number on record in 2024, amid a toxic and menacing moment in American politics.