If you’re one of the tens of millions of Americans planning to file their taxes this week, there’s one important thing to remember before you hit submit: The US government wants to know about every cryptocurrency transaction or NFT you made in the last year; if you have made money on these offers, you must … Read more
Each year, Americans spend more than $11 billion on tax preparation services. For most taxpayers, this is money out the window. Even approaching this year April 18 filing deadlinethere are many options for completing your taxes for free, either on your own or with the help of an expert. IRS Free File If you make … Read more
The 2021 tax filing season will begin on Monday, Jan. 24, 2022, the Treasury Department announced Monday. But amid the ongoing pandemic and a lack of resources at the Internal Revenue Service, Treasury officials warn it will be a challenge for taxpayers and tax preparers facing a frustrating filing season. Normally, the IRS would have … Read more
The IRS said it has nearly $1.5billion in unclaimed tax refunds – and the tax agency is urging people to take action by April 18 to claim all the money owed to them . Unclaimed refunds come from about 1.5 million taxpayers who failed to file taxes in 2018, the agency said. Because there is … Read more
The IRS said it has nearly $1.5billion in unclaimed tax refunds – and the tax agency is urging people to take action by April 18 to claim all the money owed to them . Unclaimed refunds come from about 1.5 million taxpayers who failed to file taxes in 2018, the agency said. Because there is … Read more
The US government is suing Intuit, alleging that the owner of the widely used tax filing software is lying to customers by claiming the product is free and then directing them to paid services and products. The Federal Trade Commission filed a lawsuit Monday in the Northern District of California and asked a court for … Read more
The IRS could eliminate its huge filing backlog by the end of the year, IRS Commissioner Charles Rettig said Thursday. His rosy prognosis comes as millions of people are still waiting for the overburdened agency to process returns from previous tax-filing seasons and send out their refunds, even as the IRS entered a new tax-filing … Read more
The IRS began the current tax season with a massive backlog of tax returns, prompting the National Taxpayer Advocate to describe the agency as “in crisisNow the IRS says it has a plan to deal with its current backlog of 7.2 million filings: Hire 5,000 workers this month — no tax experience necessary. The tax … Read more
Tax season is a difficult time for taxpayers, who are understandably keen to get their refunds fast and who may worry that processing issues could delay their checks. But some Americans may have more to worry about than others: low-income households with less than $25,000 in annual income. This group is five times more likely … Read more