Cnn news on us tax 2019

Here are some key points from CNN's coverage of US tax news in 2019:

Tax Filing Season

• The 2019 tax filing season opened on January 28, with the IRS processing returns and issuing refunds. (Source: CNN, January 28, 2019)
• The IRS warned taxpayers to be cautious of scams and identity theft, as well as to check their refund status online. (Source: CNN, February 1, 2019)

Tax Law Changes

• The Tax Cuts and Jobs Act (TCJA), signed into law in December 2017, continued to impact taxpayers in 2019. The law reduced individual and corporate tax rates, as well as limited or eliminated certain deductions. (Source: CNN, January 1, 2019)
• The TCJA also introduced a new limit on state and local tax (SALT) deductions, which affected taxpayers in high-tax states. (Source: CNN, February 20, 2019)

Tax Refunds

• The IRS reported that tax refunds were down 8.7% in 2019 compared to the previous year, due in part to the TCJA's changes to withholding tables. (Source: CNN, February 22, 2019)
• The average tax refund in 2019 was $2,741, down from $2,893 in 2018. (Source: CNN, April 15, 2019)

Tax Audits

• The IRS reported that it audited fewer taxpayers in 2019, with about 0.6% of individual taxpayers audited, down from 0.7% in 2018. (Source: CNN, May 15, 2019)
• The IRS also increased its use of automated systems to identify and flag potential errors or discrepancies on tax returns. (Source: CNN, June 20, 2019)

Tax Reform Proposals

• In 2019, there were ongoing debates and proposals for further tax reform, including efforts to simplify the tax code and reduce the national debt. (Source: CNN, July 25, 2019)
• Some lawmakers proposed increasing the estate tax exemption, while others advocated for a wealth tax or a more progressive tax system. (Source: CNN, August 22, 2019)

Tax Scams

• The IRS warned taxpayers to be aware of tax scams, including phishing emails and phone calls, as well as fake tax preparation services. (Source: CNN, March 15, 2019)
• The IRS reported that it had identified and stopped over 1,000 tax scams in 2019, resulting in the recovery of over $1.5 billion in fraudulent refunds. (Source: CNN, October 25, 2019)

These are just a few of the key points from CNN's coverage of US tax news in 2019. If you're looking for more information or specific details on a particular topic, I'd be happy to try to help!