On October 7, the White House announced that it had concluded review of the so-called “family glitch fix” rule. As I have written numerous times, including in a comment letter to the Internal Revenue ...
Tag: IRS
Aaron Judge’s 62nd Home Run Ball Could Be Worth A Lot For The Lucky Fan And The IRS
NEW YORK, NEW YORK – SEPTEMBER 16: Aaron Judge #99 of the New York Yankees strikes out swinging in … [+] his first at-bat after coming off the IL during the first inning against the Toront...
IRS Wins Court Battle To Access Crypto Bank sFOX’s Customer Records for Tax Investigation
The Internal Revenue Service (IRS) is gaining access to crypto bank sFOX’s customer records as a means of investigating potential tax evasion. According to a new press release, the IRS has obtained a ...
IRS Moving on Crypto Holders Who Skip Taxes: 3 Things to Know
The IRS is going after crypto owners who fail to report gains on their taxes. The US tax authority got a court order Thursday enjoining an NYC bank to turn over records on potential crypto tax dodgers...
IRS Pursues Crypto Tax Evaders at M.Y. Safra Bank
Join Our Telegram channel to stay up to date on breaking news coverage A New York court decided on Thursday that the U.S. Internal Revenue Service (IRS) has been given permission to serve M.Y. Safra B...
U.S IRS Obtains Court Summons to Reign in Crypto Tax Evaders – crypto.news
The United States Internal Revenue Service (IRS) has been authorized by a court to issue a so-called “John Doe” summons against M.Y. Safra Bank. The request follows the failure of crypto users who use...
1.6 million Americans are about to get an average $750 back from the IRS — could you be one of them?
1.6 million Americans are about to get an average $750 back from the IRS — could you be one of them? If you filed your 2019 or 2020 taxes late, then you’re likely eligible for a rebate on those late f...
IRS Issues Summons on Users Who Don’t Pay Taxes on…
The U.S. Internal Revenue Service (IRS) has been granted the authority to issue a “John Doe” summons to New York-based M.Y. Safra Bank. The summons forces the bank to hand over information about its c...
Crypto profits going unreported? Here’s why you may be on the IRS radar
A U.S. District Judge recently issued an order with regards to taxation paid on cryptocurrencies. The Judge authorizing Internal Revenue Service (IRS) to seek information related to American taxpayers...
IRS to summon users who don’t report and pay tax on crypto transactions
With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect c...
IRS Targets Crypto Tax Evaders With M.Y. Safra Bank Summons Over SFOX Data
The U.S. Internal Revenue Service (IRS) has been granted the authority to issue a ‘John Doe’ summons to M.Y. Safra Bank, a court in New York ruled on Thursday. The summons will oblige the ...
NY bank ordered to share client user data in IRS crypto tax probe
The Internal Revenue Service (IRS) has issued a court summons forcing M.Y. Safra Bank to share the details of a client’s users in order to crack down on tax evasion in relation to crypto transactions....
IRS secures court approval to probe records of M.Y. Safra Bank, SFOX users over failure to report taxes
On Sept. 22, a U.S. judge granted the Internal Revenue Service’s (IRS) petition that requires M.Y. Safra Bank to submit records of taxpayers who may not have reported or paid taxes on crypto transacti...
US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders
“The government’s ability to obtain third-party information on those failing to report their gains from digital assets remains a critical tool in catching tax cheats,” IRS Commissioner Charles P...
Tax Collections Are Up 23% As Inflation, Wages And Profits Rise
Internal Revenue Service federal building Washington DC USA getty Tax collections this year in the U.S. are up 23% compared to last year, according to a new study by the Tax Foundation citing Congress...
Plaintiffs In Sexual Harassment Cases Are Taxed, Defendants Are Not
NEW YORK, NY – DECEMBER 09: People carry signs addressing the issue of sexual harassment at a #MeToo … [+] rally outside of Trump International Hotel on December 9, 2017 in New York City. ...
Caterpillar stock jumps to lead the Dow’s gainers after IRS settlement included no penalties
Shares of Caterpillar Inc. CAT, +3.46% climbed 3.3% in morning trading Friday, enough to pace the Dow Jones Industrial Average’s DJIA, +1.19% gainers, after the construction and mining equipment...
The IRS may be coming for your savings account (but don’t worry, it’s not as bad as it sounds)
Interest you earn from a high-yield savings account is generally taxable Getty Images/iStockphoto For years now, savings accounts have paid an abysmal rate of interest. But in recent months, we’ve see...
With Just Five Words, Congress Can Rein In IRS And Other Federal Agents
Under the Inflation Reduction Act, the IRS will receive a staggering $45.6 billion to bolster “tax enforcement.” That means substantially more manpower for criminal prosecutions, civil judgments, and ...
Compounding a disastrous year for Bitcoin and other cryptocurrency: IRS proposes controversial new question about digital assets
The Internal Revenue Service could have a potential head-scratcher of a question about your crypto investments and what’s taxable, according to a major accountants’ association. For two years, the IRS...
IRS Says It Exposed Some Confidential Taxpayer Data on Website
WASHINGTON—The Internal Revenue Service inadvertently posted what is normally confidential information involving about 120,000 individuals before discovering the error and removing the data from its w...
The IRA: What Hath Washington Wrought?
US President Joe Biden signs the Inflation Reduction Act. (Photo by MANDEL NGAN / AFP) (Photo by … [+] MANDEL NGAN/AFP via Getty Images) AFP via Getty Images This is the first of a three-part se...
IRS refunding $1.2 billion in late-filing fees for nearly 1.6 million
Ekaterina Goncharova | Moment | Getty Images The IRS on Wednesday announced it will waive penalties for many Americans who late-filed tax returns during the pandemic. Nearly 1.6 million filers will au...
IRS Cancels Millions Of Penalties And Will Issue Refunds To Taxpayers Who Already Paid Them
The IRS has announced widespread penalty relief for those who filed late during the Covid-19 … [+] pandemic. getty Given the pandemic, did you file your 2019 or 2020 tax returns late? It happene...
IRS Forgives Penalties For Millions Of Taxpayers Who Filed Late—Here’s Who Qualifies
Topline The Internal Revenue Service said Wednesday it will waive and refund penalties for Americans who filed their 2019 or 2020 tax returns late, as the agency struggles with a massive Covid-imposed...