Close

irs

Tax reporting proposal creates a defining moment for the crypto industry

[CNBC, Getty] A small section of the $1 trillion infrastructure bill that would place new tax reporting requirements on the cryptocurrency industry has generated a wave of lobbying.Calls from constituents supporting the industry have grabbed lawmakers’ attention.The crypto industry and allies hope to still change the law before it takes affect.A small section of the $1 […]

This post is only available to members.

Read More

5 red flags that can trigger a tax audit from the IRS

[Yahoo! Finance, Getty] Of the millions of taxpayers who filed their 2020 taxes, a handful of unlucky ones may have their returns singled out by the Internal Revenue Service for an audit. It’s not terribly likely. In the 2019 fiscal year, only 0.45% of the individual tax returns were audited, according to agency data, a rate […]

This post is only available to members.

Read More

Stimulus checks to start arriving this weekend: 7 things you need to know

[CNET] The IRS and Treasury will begin processing and sending the $1,400 stimulus checks as soon as this weekend. But not everyone may get all their money immediately. Biden is now signing the American Rescue Plan at 1:30 pm this afternoon, per the White House.— Jim Tankersley (@jimtankersley) March 11, 2021Things are moving quickly for […]

This post is only available to members.

Read More

Tax preparers warn unemployment recipients could owe IRS

[The Hill] Tax preparers are concerned that many of the millions of Americans receiving unemployment benefits due to the pandemic are unaware that they might owe money to the IRS next year. Jobless benefits are subject to federal income taxes, as well as state income taxes in most parts of the country. But workers who […]

This post is only available to members.

Read More

10 reasons why your stimulus check hasn’t arrived

[CNET] Dead ends, form issues, holdups: Do you meet the requirements for a stimulus payment, but you’re still waiting on your check from the IRS? One of these reasons could explain why it hasn’t shown up. For the most up-to-date news and information about the coronavirus pandemic, visit the WHO website. By now, the IRS has […]

This post is only available to members.

Read More

When Are Paper Stimulus Checks Being Mailed?

[MONEY, GETTY IMAGES] Is the check in the mail? For many people receiving paper stimulus checks, the answer is: no, not yet. While tens of millions of taxpayers have already received $1,200 coronavirus stimulus payments, as part of the $2 trillion CARES Act, most of this coronavirus relief money so far has been sent via bank direct […]

This post is only available to members.

Read More

Will The $2,000 Monthly Stimulus Check Proposal Save Our Economy?

[FORBES, GETTY IMAGES] Over 80 million taxpayers have already received stimulus checks, however, it could be months before all stimulus checks have been issued. In the meantime, millions of Americans are out of work and there is no definitive timeline for businesses to reopen and the economy to get back on track. As the COVID-19 pandemic […]

This post is only available to members.

Read More

Coronavirus stimulus checks: Where is the missing money going?

[USA TODAY] Americans are reaching out to tax preparers and lining up at their offices around the country to find out what happened to their stimulus checks. One answer: The IRS sent those missing payouts to an intermediary bank account if a client got an advance on their tax return, tax professionals say. Clients tipped tax preparers off to […]

This post is only available to members.

Read More