IRS
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The Internal Revenue Service is sending letters to more than 9 million households who are potentially eligible for tax benefits, but haven’t filed a 2021 return to claim them. The news come after an audit by the Treasury Inspector General for the Tax Administration. $1.1 billion in Child Tax Credits were sent to 1.5 million […]
The popular do-it-yourself online income Tax service TurboTax is in hot water and will have to payback $141 million dollars to customers in the United States after a misleading ad. New York Attorney General Leticia James announced TurboTax will have to stop running their “Free free, Free free” ad campaign and pay back restitution to […]
Tax Day Deadline, Is due today April 18th. Americans are already falling behind in the current tax season, according to the latest IRS statistics. About 91 million people have filed their returns as of April 1, down from 93 million filers at the same time last year, when taxpayers had an extra month to get […]
The IRS will not be needing your selfie after all. Internal Revenue Service announced plans to drop a controversial step to use facial recognition to verify IDs online. The IRS said that it will move away from using a third-party service that used facial recognition to help authenticate people who needed to create new online IRS […]
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reporting that a new proposal from the US Treasury Department would require banks to report all money being deposited & withdrawn to the IRS.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 […]
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