Trying to reach IRS over the long weekend? Hoping to use e-Services to file by the extension, match a TIN or other service? You’re out of luck until Tuesday.
The IRS has finally issued some guidance on Bitcoin and FBAR. The verdict? Not reportable for now…
Chances are, you might be paying Verizon to read this. Or Comcast. Or some other internet provider. But you’re not paying Uncle Sam. And you’re probably not paying your state or municipality. By law, federal, state and local governments may not tax internet access. The Internet Tax Freedom Act (downloads as a pdf), is part … Read more
With security and privacy concerns mounting about the Heartbleed bug, the Canada Revenue Agency (CRA) has temporarily shut down its online filing options. What does IRS say about it?
With just about a month left in tax season, IRS is reporting an uptick in the numbers of taxpayers filing from home computers. Are you one of them?
Looking for tax info on the go? IRS has updated its mobile app, IRS2Go, and it’s more functional than ever.
We used to assume that crime happened in predictable places: dark alleys and dicey street corners. In reality, some of the biggest crimes in the world are occurring in home offices and in family basements: some of the most sophisticated and damaging financial crimes just need an internet connection. A recent study by the Center … Read more
Overstock raised eyebrows earlier this month when the retailer announced it would accept Bitcoin as payment. While Bitcoin has slowly been making inroads into the U.S. economy, Overstock is by far the largest, most mainstream company to tout the currency as a legitimate means of payment. And it definitely paid off, with Patrick M. Byrne, … Read more
Cyber Monday may break records – and state treasuries.
James Howell, a tech geek in the UK, made the painful realization that he had literally thrown away $9 million when he tossed out his computer hard drive. That hard drive stored 7,500 in bitcoins – an alternative currency that recently soared in value. But Howells’ folly is a good opportunity to talk casualty loss deduction: when can bad luck result in a tax deduction?