IRS
Conservative opposition to strengthening the IRS has left lawmakers scrambling to find new ways to offset the cost of a $1.1 trillion infrastructure package.
President Joe Biden’s signature program will start delivering monthly checks to parents on July 15.
The expanded child tax credit won’t reach people who don’t file tax returns.
ProPublica has obtained a vast cache of IRS information showing how billionaires pay little in income tax compared to their massive wealth — sometimes, even nothing.
WHAT'S HAPPENING
After releasing his 2020 tax returns, President Joe Biden shaded his predecessor, Donald Trump, for breaking with tradition by not doing the same while in office.
Roughly 39 million American households will receive payments of up to $300 per child per month as part of American Rescue Plan.
The White House is under pressure to make this a permanent benefit, rather than offer another short-term extension.
Prosecutors say Stone and his wife shielded their income in a commercial entity and used funds they owed the IRS on a "lavish lifestyle" instead.
Payments will be made in monthly increments to parents from July to December, with additional benefits at tax time in 2022.
The IRS said most of the payments will go out on April 7.