The income thresholds for the seven federal tax brackets increased by a bigger-than-normal amount for the 2023 tax year to reflect runaway inflation seen last year. “They are just the usual changes du...
Tag: Tax
7 EVs That Cost Less Than the Average New Car After Tax Credits
Electric vehicle buyers in the U.S. can now get a purchase tax credit from the government, and it has pushed the price of several high-volume EVs below the average price paid for a new car in America....
7 EVs That Qualify for a Tax Credit—and Cost Less Than the Average New Car
Electric vehicle buyers in the U.S. can now get a purchase tax credit from the government, and it has pushed the price of several high-volume EVs below the average price paid for a new car in America....
Congress Pushes US Energy Transition Through Tax Credits — But Will It Work?
A large solar photovoltaic solar project under construction near Santa Nella CA in the California … [+] Central Valley. getty If left to market forces, commodities and industries tend to be more...
MLB 2022 Luxury Tax Payrolls Exceed $5 Billion For First Time; Six Clubs Pay Penalties
Over $5 billion was paid out to players in Major League Baseball in 2022 in the form of salaries, … [+] bonus, and other benefits. (Photo by Al Bello/Getty Images) Getty Images Total compensatio...
2022 was rough. But here are 5 brand new retirement savings and tax rules that could give you a big boost in 2023 — get to know them now
2022 was rough. But here are 5 brand new retirement savings and tax rules that could give you a big boost in 2023 — get to know them now After a year of record-breaking inflation and a volatile market...
The Window to Capture a $7,500 Electric-Vehicle Tax Credit May Be Closing. How to Snag It.
Americans are flocking to electric vehicles, pushing sales up 127% over the past two years. To sweeten the deal, the federal government is offering a tax credit of up to $7,500 for EVs and other “clea...
Ukraine to Be Best Crypto Jurisdiction With New Tax Rules, Digital Minister Says in Davos – Regulation Bitcoin News
Ukraine will become the world’s best jurisdiction for crypto assets, the minister overseeing the country’s digital transformation promised. Speaking with media at the World Economic Forum in Davos, My...
US tax law firm wants to help crypto users
The law office of David W. Klasing has urged crypto market participants who haven’t been filing taxes to come forward and seek assistance before the IRS and the Department of Justice clamp down. David...
Jan. 17 is the deadline for 2022 fourth-quarter estimated tax payments
Constantine Johnny | Moment | Getty Images There’s still time to avoid a penalty if you didn’t pay enough taxes in 2022 — but the clock is ticking. If you are self-employed or receive inco...
Leading Crypto Tax and Accounting Provider Ledgible Unveils New Design – Press release Bitcoin News
press release PRESS RELEASE. Ledgible, the leading digital asset tax and accounting solution for institutions, professionals, and investors unveils a newly revamped website and interface. Users can no...
Cold and cash-strapped? Here are 4 hot states that won’t tax your pension income at all — no matter how old you are or how much money you have
Cold and cash-strapped? Here are 4 hot states that won’t tax your pension income at all — no matter how old you are or how much money you have As the United States enters the frigid depths of wi...
NFT Transaction Tax Rules Updated By Japanese Taxation Agency
Japan’s National Tax Agency has published an updated guideline related to the taxation of NFTs. Among other things, NFT transactions in blockchain-based games will be subject to taxation. Japan’s Nati...
Shanghai pledges tax cuts, government subsidies for ailing small businesses as city sharpens focus on economic recovery in 2023
Shanghai, the financial and commercial hub of China, has pledged to roll out more relief measures to support ailing small businesses hit hard by past pandemic curbs, as the metropolis pursues a consum...
How big will your tax refund be? Changes this year make it harder to guess
This year it could be harder for Americans to gauge how big — or small — their tax refund might be. With pandemic-era changes gone, many taxpayers might see smaller refunds, especially lower-income fa...
Crypto Lender Nexo Targeted in Bulgaria Probe Into Alleged Money Laundering, Tax Violations
“There are authorities at one of Nexo’s offices in Bulgaria, which is, as you know, the most corrupt country in the EU (European Union),” a Nexo spokesperson said in an email to CoinDesk. ...
Trump Organization Ordered To Pay $1.6 Million For Tax Fraud
Topline The Trump Organization must pay $1.6 million in fines after being found guilty of tax fraud, a judge ordered Friday according to multiple outlets, after former President Donald Trump’s family ...
Biden Vows to Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination of IRS – Bitcoin News
Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Spe...
Here’s how to get a faster tax refund during the 2023 filing season
Bill Oxford | E+ | Getty Images Despite falling inflation, many Americans are still struggling financially and will need their annual tax refund to help cover the basics. Some 30% of Americans overal...
IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar
It’s not too early to start thinking about your 2022 income-tax return, if you can bear the thought. That’s because the tax-filing season is scheduled to start on Monday, Jan. 23, the Internal Revenue...
Tax season opens for individual filers on Jan. 23
It’s official: The tax season kicks off for individual filers on Jan. 23, the IRS announced Thursday. For most taxpayers, you must file your federal return and pay your balance by April 18 this ...
South Korea Goes After Bithumb for Another Tax Evasion Scandal
Bithumb Holdings comes under federal probe for suspected tax evasion. The current probe is the second time Bithumb has been subject to a tax investigation. Bithumb ranks among the top 10 crypto exchan...
Here are 3 moves to make before the 2023 tax filing season opens
mediaphotos | E+ | Getty Images Enlist tax prep help One of the first things to consider: Will you be filing your own taxes this year or tapping an expert to file a return on your behalf? If you’...
NTS of South Korea Probes Bithumb over Possible Tax Evasion
NTS is investigating Bithumb over possible tax evasion. They were previously accused of similar incidents in 2018, but the charges were reversed. From January 2023, crypto gains over KRW 2.5 million...
Did Trump donate his salary in 2020? Tax returns don’t tell full story
Former President Donald Trump arrives at his Mar-a-Lago home on Dec. 31, 2022. Joe Raedle | Getty Images When former President Donald Trump’s tax returns were issued publicly Dec. 30, some news ...
Mega Millions Jackpot Swells To $1.35 Billion For Friday 13th Draw—Here’s The Tax Bill If You Win
Topline No one bagged Tuesday night’s billion-dollar Mega Millions draw, the lottery operator said, sending the jackpot soaring to $1.35 billion for the next draw on Friday the 13th, one of the larges...
Republicans’ first bill makes tax fraud easier for high earners
Big hammer goes boom. Republicans set the tone for their next two years running the House of Representatives by enacting legislation that would add $114 billion to the deficit over the next decade, ac...
The Block: Bithumb probed by South Korean tax officials: Yonhap News Agency
The National Tax Service (NTS) of South Korea has reportedly launched a “special tax investigation” into Bithumb Korea and Bithumb Holdings. On Jan. 10, tax agents raided BithumbR...
Crypto Tax Season Is Coming. Are You Ready?
It’s never too early to get your ducks in a row when it comes to prepping for fast-approaching crypto tax reporting, according to accounting executives. The US Treasury has delayed releasing its...
Can I Harness the Bear Market to Cut My RMDs and Tax Bill?
I am currently in a 12% tax bracket and attempting to convert as much money as I can to a Roth individual retirement account (IRA) without going into the next bracket. I am trying to do this to reduce...