IRS

IRS issues another tax warning to Americans who earned more than $600 online

IRS issues another tax warning to Americans who earned more than $600 online

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Independent contractors who have earned money through online services will have their income reported to the Internal Revenue Service (IRS) starting in 2023, the agency said in a second warning issued Tuesday. People who have made money through eBay, Etsy, Poshmark, Uber and other digital services will face the new oversight and new rules. It …

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IRS warns Americans to report $600 transactions from payment processors or risky audit

IRS warns Americans to report $600 transactions from payment processors or risky audit

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The Internal Revenue Service reminds taxpayers to report transactions of at least $600 made through payment networks like Venmo, Paypal and Cash App, as the agency seeks data regarding part-time employment and side gigs, a move critics called a government abuse. In a recent explainer posted online, the IRS said that according to the American …

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Advice | 5 Reasons to Report Your Fantasy Football and Concert Income to the IRS

Advice | 5 Reasons to Report Your Fantasy Football and Concert Income to the IRS

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Comment this story Comment I understand. Inflation makes things so expensive. So you think the IRS doesn’t need to know all of your income from odd jobs. Or you are in a fantasy football league and do not intend to report your winnings. Maybe you think the government shouldn’t get a share of your rental …

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What to know about the IRS rules for bitcoin, ethereum and other cryptocurrencies for the 2023 tax season

What to know about the IRS rules for bitcoin, ethereum and other cryptocurrencies for the 2023 tax season

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Insider experts choose the best products and services to help you make informed decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Terms apply to offers listed on this page. Cryptocurrency is taxed as property by the IRS, like stocks or real …

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The IRS says its 87,000 new hires could help raise up to $1 trillion, by forcing tax cheats to pay. But will more "fire-breathing dragons" really do the trick?

The IRS says its 87,000 new hires could help raise up to $1 trillion, by forcing tax cheats to pay. But will more “fire-breathing dragons” really do the trick?

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The IRS says its 87,000 new hires could help raise up to $1 trillion, by forcing tax cheats to pay. But will more “fire-breathing dragons” really do the trick? Get ready, ultra-wealthy Americans: President Joe Biden wants you to start paying your share. Through the Cut Inflation Act, Biden plans to increase funding for the …

The IRS says its 87,000 new hires could help raise up to $1 trillion, by forcing tax cheats to pay. But will more “fire-breathing dragons” really do the trick? Read More »