B.A. Spending Daily
A roundup of this morning’s must-read budget and economic stories.
IRS Public Relations, Wednesday Waste?
Public relations is an expensive business, but how expensive is it when government agencies take part?
B.A. Spending Daily
A roundup of this morning’s must-read budget and economic stories.
IRS gives millions of dollars to prison inmates
According to USA Today, crime really does pay — at least for prisoners in Florida, Georgia and California who scammed the IRS out of millions of taxpayer dollars.
Public Pulse: what would be your first spending cut?
Reuters asked Americans what federal spending cuts they favored most. Topping the “cut” lists were foreign aid, the IRS, and regulatory agencies.
Treasury announces monthly deficit for April
The Treasury Department announced today a monthly budget deficit of $82.7 billion. The budget year-to-date deficit is now amounts to just under $800 billion. April’s monthly budget deficit was more than double the consensus estimate of $40 billion. April’s deficit was also more than a $17 billion or 26% increase over March’s deficit. As we [...]
A too complex tax code means a big tax gap
You filed your taxes yesterday, but did your neighbors? The IRS estimates the overall compliance rate with the tax code to be about 84 percent. In other words, for every dollar that is owed under tax law, only about 84 cents is paid – without the IRS taking any action. That means that each year [...]
Today’s not just tax day, it’s also budget day
Today is Tax Day – the day we must file our tax returns. Today, millions of Americans across the country are doing one of their most important budgeting tasks all year – they’re preparing, postmarking and filing their taxes with the IRS. Americans have spent countless hours and untold dollars pouring over receipts and statements [...]
The new health care bill swells the IRS belly
The new healthcare bill mandates that all Americans must have health insurance, and the Internal Revenue Service (IRS) is charged with enforcing that mandate. The IRS will have to hire between 11,800 and 16,500 new employees to manage its new responsibilities, according to analysis by the Minority of the House Ways and Means Committee. The [...]
Government employees owe almost $1 billion in back taxes
As state governments consider delaying refunds owed to private citizens, public employees delay taxes owed to government. ABC news reports: Working for Uncle Sam comes with some great perks, like job stability, posh benefits packages, and in many cases, average salaries that are higher than what the same job pays in the private sector. That’s why Republican [...]
