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IRS Shakeup? What Trump's Commissioner Pick Could Mean for Taxes
IRS Shakeup? What Trump's Commissioner Pick Could Mean for Taxes
An unconventional nominee comes amid broader efforts to reshape the IRS and tax policy in 2025.
By Kelley R. Taylor
published 15 minutes ago in News
You may have heard President-elect Donald Trump nominated former Missouri Congressman Billy Long as IRS Commissioner. For many reasons, the move has sparked debate about the future of tax policy and IRS operations. ... First, Long’s background as a certified auctioneer with limited tax experience and no college degree distinguishes him from typical IRS commissioner nominees.
{snip}
In a statement, Sen. Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, said, "If Trump fires Mr. Werfel, it won't be to improve on his work; it'll be to install somebody Trump can control as he meddles with the IRS." {snip} So…how could a leadership shakeup at the IRS impact your taxes? Read on.
{snip}
IRS tax overhaul?
{snip}
One target is the IRS's Direct File program. Some Republican lawmakers are pushing to prohibit funding for this government-run tax preparation system, which could effectively end the initiative. ... IRS Direct File is a free online service that allows eligible taxpayers to submit their federal tax returns directly to the IRS. The system, criticized by some lawmakers and industry tax prep giants like Intuit Turbo Tax and H&R Block, eliminates the need for third-party tax software or professional assistance for some filers.
• Following a successful pilot program, the IRS recently made Direct File permanent and expanded to 25 states in anticipation of the upcoming tax filing season.
• The IRS expects over 30 million taxpayers to use the program in the coming year.
It’s also worth noting that Project 2025, a conservative blueprint for U.S. governance, calls for a two-rate individual tax system and the elimination of most deductions and credits. Long's past co-sponsorship of tax-related legislation suggests alignment with those goals.
{snip}
An unconventional nominee comes amid broader efforts to reshape the IRS and tax policy in 2025.
By Kelley R. Taylor
published 15 minutes ago in News
You may have heard President-elect Donald Trump nominated former Missouri Congressman Billy Long as IRS Commissioner. For many reasons, the move has sparked debate about the future of tax policy and IRS operations. ... First, Long’s background as a certified auctioneer with limited tax experience and no college degree distinguishes him from typical IRS commissioner nominees.
{snip}
In a statement, Sen. Ron Wyden (D-Ore.), Chair of the Senate Finance Committee, said, "If Trump fires Mr. Werfel, it won't be to improve on his work; it'll be to install somebody Trump can control as he meddles with the IRS." {snip} So…how could a leadership shakeup at the IRS impact your taxes? Read on.
{snip}
IRS tax overhaul?
{snip}
One target is the IRS's Direct File program. Some Republican lawmakers are pushing to prohibit funding for this government-run tax preparation system, which could effectively end the initiative. ... IRS Direct File is a free online service that allows eligible taxpayers to submit their federal tax returns directly to the IRS. The system, criticized by some lawmakers and industry tax prep giants like Intuit Turbo Tax and H&R Block, eliminates the need for third-party tax software or professional assistance for some filers.
• Following a successful pilot program, the IRS recently made Direct File permanent and expanded to 25 states in anticipation of the upcoming tax filing season.
• The IRS expects over 30 million taxpayers to use the program in the coming year.
It’s also worth noting that Project 2025, a conservative blueprint for U.S. governance, calls for a two-rate individual tax system and the elimination of most deductions and credits. Long's past co-sponsorship of tax-related legislation suggests alignment with those goals.
{snip}
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
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