A gift letter for a mortgage verifies the source of a homebuyer’s gifted down payment funds. The gift letter proves that the funds are in fact a gift and don’t have to be repaid, and that the giver ...

However, receiving a notification from the IRS, specifically the 5071(SP), 5071(C/SP), or 5071F(SP) letters, can put a halt to this excitement. These letters are sent to individuals whose identity ...

Beware Republicans bearing gifts. Republicans want to make the new year a friendlier time for taxpayers by reducing the number of IRS auditors. It seems our biggest concern in life is the fear of ...

Top Democrats in Congress want to know what Elon Musk’s Department of Government Efficiency (DOGE) plans to do at the Internal Revenue Service (IRS) after multiple outlets reported the advisory ...

The IRS didn't immediately return a request for comment. In a Feb. 17 letter to the IRS, Senators Ron Wyden and Elizabeth Warren, both Democrats, cited reports that DOGE is "pressuring the IRS to ...

Congressional Republicans are likely to welcome DOGE’s changes to the IRS. On Thursday, Rep. Jason T. Smith (R-Missouri), chairman of the House Ways and Means Committee, wrote a letter to IRS ...

Democratic Sens. Ron Wyden of Oregon and Elizabeth Warren of Massachusetts expressed serious concerns about potential misuse of private taxpayer data in a letter to the IRS on Monday. The senators ...

After DOGE gained access to U.S. Department of Treasury payment systems in recent weeks, a group of House Democrats sent a letter to the acting IRS commissioner, inquiring about the confidential ...

DHS sent a letter to Treasury Secretary Scott Bessent requesting that the IRS provide agents to be used for immigration enforcement efforts by Immigration and Customs Enforcement (ICE).

Any pending EIP will be directly deposited into bank accounts or mailed as paper checks, and recipients will receive a separate letter from the IRS concerning the payment. Last month, the IRS ...

If a tax payer does not pay their tax bill in full, the IRS will send a "demand for payment" letter. If not paid, a lien will come next that is dated from the date of assessment. This lien becomes ...