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The Internal Revenue Service is reevaluating how to gauge the more than 150 taxpayer service improvement projects it had been pursuing before staffing and budget cuts this year, according to a new report.The report, released Thursday by the Government Accountability Office, noted that the IRS has struggled to improve how taxpayers experience IRS services. The Inflation Reduction Act of 2022 provided nearly $80 billion in extra funding to improve IRS operations, including taxpayer services, but much of that amount has since been reduced, especially on the enforcement side. The report found the IRS was implementing a strategy to improve taxpayer services…

Health care premiums expected to rise for Affordable Care Act enrollees – CBS News Watch CBS News People who get their health insurance through the Affordable Care Act are expected to see a significant spike in their premiums next year because of several factors, including an end to certain tax credits. Dr. Jon LaPook explains. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

The Internal Revenue Service’s progress in improving tax compliance in recent years has been threatened by cuts in funding and hiring, according to a new report.The report, released by the Treasury Inspector General for Tax Administration, examined IRS trends in compliance activities through fiscal year 2023. That was a year after the IRS initially received nearly $80 billion in extra funding over 10 years under the Inflation Reduction Act of 2022, much of it aimed at improving enforcement, taxpayer service and technology. However, that extra funding was repeatedly clawed back by Congress.”The IRS initially received $79.4 billion from the IRA,”…

A passenger passes a giant American flag as they make their way to and from their gates during the Memorial Day weekend getaway at John Wayne Airport Orange County in John Wayne Airport, Santa Ana, CA on Thursday, May 26, 2022. Allen J. Schaben | Los Angeles Times | Getty ImagesCanadian travel dropped sharply in the first half of 2025, according to numbers by U.S. Travel Association.Visits from Canada dropped by nearly 19% over the same time period last year, dragging overall international visits lower by 3.4%.That equates to a decline of $1.9 billion in travel spending. June was especially rough,…

A worker helps board up windows at Joey and Brenda Bermudez’s home that was damage by a recent tornado at the Elkhorn Ranch neighborhood in Elbert County on May 19, 2025. RJ Sangosti | MediaNews Group | Denver Post | Getty ImagesGlobal insured losses for the first half of this year have reached $84 billion, according to a recent Gallagher Re report — the highest first half total since 2011.Violent storms in the U.S. with damaging wind, lightning and hail are driving losses for insurers of more than $30 billion, according to the report from the global reinsurance broker. These…

American Express has long benefited from a focus on wealthier customers who appreciate the credit card company’s travel and dining perks.That has helped insulate the company from concerns over a spending slowdown. In the second quarter, total spending on Amex cards jumped 7%, matching the first quarter and higher than the 6% increase a year ago.But travel spending in the quarter was weaker than transactions for goods and services, and that’s specifically because airline spending has stalled out, coming in flat from a year ago, American Express said Friday.Economy class domestic airfare is the source of the weakness, Amex CFO…

Douglas Ingram, president and chief executive officer of Sarepta Therapeutics Inc., during the Forbes Healthcare Summit in New York, US, on Tuesday, Dec. 5, 2023. Michael Nagle | Bloomberg | Getty ImagesShares of Sarepta Therapeutics plunged more than 30% on Friday as the future of its approved gene therapy treatment appeared at risk.The Food and Drug Administration will request that the company voluntarily stop all shipments of the treatment, Elevidys, a person familiar with the matter told CNBC.Sarepta told CNBC it had not heard from the FDA. Separately, FDA Commissioner Marty Makary told Bloomberg News the agency is considering whether…