All articles tagged with #governmentfinance
The IRS has made its Direct File platform a permanent, free option for filing federal tax returns online, inviting all states to participate next year. The pilot program saw over 140,000 users and received positive feedback, with many taxpayers completing their returns in under an hour. The IRS aims to expand the platform, supported by multi-year funding from the Inflation Reduction Act, while continuing to offer other filing options.
The Federal Deposit Insurance Corporation's Board of Directors held an open session meeting to discuss various matters, including proposed rulemaking on long-term debt requirements for large bank holding companies, resolution plans for insured depository institutions, proposed guidance for Dodd-Frank Act resolution plan submissions, conditions to certain receivership delegations of authority and procedures, and board approval of midsized and large failed bank sales.
US Senators Rick Scott and Elizabeth Warren have requested salary information from the Federal Reserve's inspector general, Mark Bialek, in an effort to make the role more independent. Concerns have been raised about potential conflicts of interest, as Bialek's salary is tied to the compensation of the Fed officials he investigates. The senators propose appointing the inspector general through presidential appointment and Senate confirmation. The request comes as Congress seeks tighter oversight of banking regulators following recent bank failures. Bialek has faced criticism for his handling of a securities trading scandal, but he has defended his agency's independence and investigative capabilities.