IRS
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The IRS will soon be making people provide selfies to access certain features on the website. Username and password will no longer be used starting this year You’ll now be required to show a picture Like a driver license state ID passport or selfie from your phone. If you already have an account on the […]
It looks like the IRS is starting to catch up with all these 3rd party dealers. Popular reseller websites such as Stock X, Ebay, and other dealers are required to report income from sellers to the IRS if they sell $600 or more of merchandise on the websites. All small dealers will receive a 1099-k form from […]
There is a new proposal by lawmakers for the $600 bank limit. The new proposal comes after the original plan for banks to flag individual accounts with more than $600 then the information to the IRS met backlash. Under the new plan lawmakers released on Tuesday, the amount is now up t0$10,000. Banks would have […]
Well this here is a interesting news article came across, it’s reporting that a new proposal from the US Treasury Department would require banks to report all money being deposited & withdrawn to the IRS. This proposal comes from President Joe Biden’s $3.5 trillion dollar budget plan. The proposals would also require banks to report […]
The Child Tax Credit Payment is coming July 15th. Some families could get up to $3,600 per kid over the course of this year and next. Parents with an income of less than $150,000 (married and filing jointly) will get a max of $300 for each child under the age of 6 and $250 for […]
The IRS has announced late Wednesday that they are planning on delaying this year’s tax deadline to mid-May. According to Democratic Reps. Bill Pascrell of New Jersey and Richard Neal of Massachusetts, the chairman of the House Ways and Means Committee, the new deadline will be May 17. The adjustment comes as a result of […]
Last Year, IRS postponed tax-filing deadline from April 15th to July 15th. Not only were taxpayers given an extra three months to submit their returns, but they also got three more months to pay any tax debt they owed without incurring interest or penalties. NOT THIS YEAR! The IRS has confirmed this week that it […]
This year’s tax season begins on Feb. 12. Experts recommend filing early. The sooner you get everything to the IRS, the quicker you’ll get your money back, including missing stimulus checks. The benefits of filing early apply to a number of groups of people who didn’t get all the money they were entitled to as part […]
Free File Alliance, an IRS program that partners with private companies to provide free tax preparation to millions of filers. Is available to those whose adjusted gross income was $72,000 or less in 2020. With tax season officially starting on Feb. 12th the agency officially announced last week that Free File was open. The public-private […]
The IRS claims the Prince estate is being undervalued. The Internal Revenue Service valued Prince’s estate at $163.2 million. The number much higher than the $82.3 million valuation submitted by the estate’s administrator Comerica Bank and Trust, according to the Minnesota’s Star Tribute. According to the report; the gap is tied to Prince’s music publishing and […]