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IRS has lost almost a third of its workers, watchdog finds – CBS News Watch CBS News A new watchdog report from the Treasury Department reveals the Internal Revenue Service has lost almost a third of its tax auditors. The cuts are a result of the Trump administration’s efforts to trim the federal workforce through its Department of Government Efficiency, or DOGE. CBS News MoneyWatch associate managing editor Aimee Picchi has more. 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 has been conducting “sweeps” in recent years to uncover cases where high-income people have not been filing taxes, but the tracking data and training need to be improved, according to a new report.The report, released last week by the Treasury Inspector General for Tax Administration, found that high-income nonfiler sweeps cases worked on by IRS revenue officers from fiscal years 2021 through 2022 were more impactful in terms of case closures and dollars collected than similar non-sweeps cases. As a percentage of the overall cases they worked on, revenue officers secured more returns under sweeps than…

Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | ReutersRivian Automotive is negatively adjusting its 2025 targets for vehicle deliveries and capital spending amid President Donald Trump’s tariffs, but the company is also reconfirming its earnings expectations for the year.The all-electric vehicle manufacturer said it is “is not immune to the impacts of the global trade and economic environment,” despite producing all of its trucks and SUVs in the U.S. at a factory in Illinois.”The current global economic landscape presents significant uncertainty, particularly regarding evolving trade regulation,…

Former LPGA golf star Michelle Wie West is taking on a bigger role in growing women’s sports — from off the course.On Tuesday, Wie West announced she has signed on as the latest athlete investor in Togethxr, the company behind the popular “Everyone Watches Women’s Sports” slogan. Togethxr aims to increase investment in and media coverage of women’s sports, among other goals.Wie West, the now 35-year-old Stanford grad, was the youngest player to ever qualify for an LPGA event at the age of 12. Since her playing career ended in 2023, she has turned her attention to her other passions,…

The Public Company Accounting Oversight Board has agreed to a statement of protocol with the Auditing Oversight Authority of the Slovak Republic as the PCAOB comes under threat of being folded into the Securities and Exchange Commission.The PCAOB announced the bilateral arrangement Tuesday and said it went into effect May 5. The pact will offer a framework for facilitating regulatory cooperation in supervising the oversight of auditors and public accounting firms. “Today’s agreement is just the latest successful example of the PCAOB working around the globe to protect investors in U.S. markets,” said PCAOB chair Erica Williams in a statement Tuesday.Last…

Comcast’s spinoff of the majority of its NBCUniversal cable network portfolio will be named Versant, the company said Tuesday, ending a monthslong process to select a new corporate moniker.The new company chose Versant (pronounced like the root of the word “conversant”) to emphasize its versatility and its familiarity with multiple subjects, according to Chief Executive Officer Mark Lazarus, who spoke in an interview.Versant, which had been called SpinCo until a permanent name was chosen, will own cable networks including USA, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. It will also house digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass and…

Nearly three-quarters (72%) of Master of Accounting programs in the U.S. reported increased application levels in 2024, according to a study by the Graduate Management Admission Council.The GMAC surveyed 297 business schools, representing 1,090 programs, for its latest report on trends in graduate business school programs.This figure represents a five-year peak in applications and is up from 43% of programs in 2023. Meanwhile, the data found that 2% of Master of Accounting programs reported that application levels were flat, and 26% reported declined applications.  “The resurgence in applicant interest in master of accounting programs is another encouraging sign for the…