Browsing: IRS

A newly proposed change to the tax code would require greater specificity from the IRS when it comes to logging and correcting simple accounting errors on Americans’ tax returns, a plan that could affect the way that millions of Americans claim the popular child tax credit (CTC). Currently, the IRS has the authority to fix…

Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.