Taxpayers, be forewarned. A new era of IRS scrutiny is looming. The Internal Revenue Service is due to receive an infusion of $80 billion over 10 years under the Inflation Reduction Act—the tax, clima...
Tag: Taxpayers
Gavin Newsom’s Needling Of GOP Governors Will Be Paid For By Taxpayers
California Gov. Gavin Newsom (Photo by Justin Sullivan/Getty Images) Getty Images California Governor Gavin Newsom (D) made national news for his recent TV ad campaign encouraging Floridians to move t...
Fusion Power Funding, A New EV Battery Plant In Kansas And How Food Waste Costs Taxpayers
This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week. Associated Press In the first four months...
Food Waste Costs U.S. Taxpayers Billions Of Dollars A Year
Every year, $400 billion ends up in dumpsters, and because it cuts into corporate profits, companies can treat it as tax deductible. When Kroger, America’s largest grocery chain, promised four years a...
Argentina Seizes 1,269 Crypto Wallets Tied To Delinquent Taxpayers
When it comes to cryptocurrency, the South American country Argentina from crypto adoption to regulations, has a long list of hot topics. As well as, according to a recent news report by local media, ...
Court Rules IRS Is Too Late To Audit, Win For Taxpayers
Tax returns are annual drudgery, but they matter. They matter for individuals, businesses and investment entities. Everybody must file one, or more than one, depending on how many entities you have. Y...
UK taxpayers can offset cryptocurrency losses with future gains
The cryptocurrency market has not been performing well in recent weeks following the collapse of Terra LUNA and UST. The collapse of these two tokens spooked investors and caused massive liquidations ...
Disney World Losing Its Special District Status Could Be ‘Catastrophic’ For Local Taxpayers
Topline Local officials in Central Florida are grappling with the state legislature’s decision to dissolve the Reedy Creek Improvement District that oversees Walt Disney World, which one local mayor s...
Warren Accuses TurboTax of ‘Scamming Taxpayers’
Representative Warren has scrutinized Intuit’s strategic policies connecting with its assessment documenting program TurboTax Bitcoin and crypto have become significant arguments as U.S. charge ...
Much To the Surprise Of Taxpayers, the IRS Ask For Reports on Crypto Acquisitions And Sales
Surprisingly, the 2022 tax season did not go through many challenges this time. The Internal Revenue Service (IRS) would easily meet the scheduled deadline, April 18, for the first time in the last th...
Fast On The Draw: Sen. Warren Says TurboTax Is Ripping Off American Taxpayers
U.S. Senator Elizabeth Warren thinks the American people could be getting ripped off in a large-scale scam. Warren and two other U.S. lawmakers accused Intuit – the developer of the most widely used t...
Warren Accuses TurboTax of ‘Scamming Taxpayers’ over Software
Senator Elizabeth Warren has written to Intuit, makers of the TurboTax software program, accusing them of offering products that “scam American taxpayers into paying for services that should be free.”...
Taxpayers get a surprise as the IRS pushes for reporting on crypto assets
The 2022 tax season is coming to an end without many challenges. For the first time in three years, the Internal Revenue Service (IRS) will be able to meet the scheduled deadline, April 18. The agency...
Warren Tells IRS to Focus Audits on the Rich, Not Low-Income Taxpayers
Lawmakers are calling on the IRS to stop disproportionately auditing low-income taxpayers, who they say are far more likely than other taxpayers to face IRS scrutiny, with audit rates for poorer filer...
Better for taxpayers or another gift to billionaires?
With President Joe Biden proposing to force billionaires to shoulder higher income tax burdens, more states have been employing a handy old idea to head in the opposite direction. They have embraced t...
Bipartisan lawmakers push for IRS answers on problems facing taxpayers
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images A group of bipartisan lawmakers is pressing the IRS for answers on lingering is...
2022 Crypto and Bitcoin Tax Guide For U.S. Taxpayers
Tax season is upon us, which means that it’s time to trawl through your finances and get your incomings and outgoings in order. Tax liability is a thorny area when it comes to Bitcoin and other ...
How A Taxpayer’s Complaint With The Department Of Justice Could Change Crypto
Last Thursday, the public learned that Joshua and Jessica Jarrett, on behalf of the Attorney General of the United States, had been offered a full refund of $3,793, plus statutory interest, for the 20...
The IRS is overburdened. What does that mean for crypto taxpayers?
Quick Take The IRS is facing a severe backlog of work after a challenging 2021 tax season. Crypto tax experts say an overburdened IRS mostly means that the usual processes will take longer, but that&#...
Taxpayers alarmed by IRS notice asking them to resend their 2020 returns. Is it a scam?
Their checks to the U.S. Treasury were cashed nearly a year ago. But taxpayers say they’re now receiving letters from the Internal Revenue Service asking them to immediately file their 2020 fede...