Am I Next? IRS Hauls in Millions From Rich Americans

Sep 30, 2024 | IRS

In recent weeks, news outlets have been buzzing with reports of the IRS targeting wealthy individuals, pulling in millions from unpaid taxes, fines, and interest. When the IRS hauls in Millions From rich Americans we don’t feel too sorry, but we might worry a...

IRS Regulations Requiring Broker Reporting of Digital Assets

Jul 9, 2024 | IRS

The U.S. DOT and the IRS issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These reporting requirements will help taxpayers file accurate tax returns concerning digital asset transactions,...

Scams Targeting Seniors

Jun 12, 2024 | IRS, SSN Scam

IRS Warns Against Scams Targeting Seniors As part of continuing efforts to protect the senior community, the IRS issued a warning about the rising threat of impersonation scams. These scams target older adults by pretending to be government officials and aiming to...

Interest Rates 3rd Quarter 2024

May 15, 2024 | IRS

The IRS announced that interest rates will remain the same for the calendar quarter beginning July 1, 2024. Here is a complete list of the new rates: 8% for overpayments (payments made in excess of the amount owed), 7% for corporations. 5.5% for the portion of a...

Missed The Tax Deadline?

Apr 22, 2024 | IRS, tax penalties

File Quickly to Avoid Penalties and Interest The IRS encourages taxpayers who missed the April tax filing deadline to file a tax return as soon as they can. Don’t let additional penalties and interest charges accrue even if you missed the tax filing deadline....

Direct File Officially Opens In 12 States

Mar 13, 2024 | IRS, tax season

12 Pilot States With Positive Reviews The IRS announced the full-scale launch of the innovative Direct File pilot and encouraged eligible taxpayers in 12 states to try the new service to file their tax returns online for free directly with the IRS. The pilot effort...