When the Internal Revenue Service (IRS) signaled that it was getting serious about cryptocurrency, the agency wasn’t kidding. The IRS is now offering cash to anyone who can “reliably produce useful results on a variety of real-world CI cryptocurrency investigations involving Monero and/or Lightning.” That’s right: they are looking for code crackers. The IRS has…
It’s my annual Taxes from A to Z series! If you’re wondering how to figure basis for cryptocurrency or whether you can claim home office expenses during COVID, you won’t want to miss a single letter. Y is for Yield Rate. If you own stock, you may receive a dividend (not all stocks pay dividends)….
Estimated payments for the third quarter are due September 15, 2020. You can find out more about the deadline here. But you need a little more information, you’re in luck! The Internal Revenue Service (IRS) has, at part of its video series, a YouTube video about estimated payments: The IRS notes that you can learn…
It doesn’t feel like it could be September already, but it is. And you know what that means: estimated payments are now due. The deadline for making your third quarter estimated tax payments for 2020 is September 15. Who Needs To Make Estimated Payments? Generally, you should make estimated tax payments if you are not…
It looks like Senate Majority Leader Mitch McConnell (R-KY) may bring a vote on the Senate “skinny” bill – the latest coronavirus relief bill. Why is it skinny? It has a slimmer price tag – and fewer benefits – than before. Some Quick History In May, House Speaker Nancy Pelosi (D-CA) announced a $3 trillion…
On March 27, 2020, President Trump signed the CARES Act into law. Most of us know that the CARES Act offered economic relief through stimulus checks and the Paycheck Protection Program (PPP). But there’s more relief available, including options that allow workers to tap into retirement accounts without a penalty, and take out loans. Here’s what you…
James (Jim) Robnett has been selected as the next Deputy Chief of CI. Robnett will be responsible for overseeing a worldwide staff of nearly 2,900 CI employees, including approximately 2,000 special agents in 21 Field Offices and 11 foreign countries, who investigate crimes involving tax, money laundering, public corruption, cyber, ID theft, narcotics and terrorist-financing….
Didn’t get a stimulus check this year? The Internal Revenue Service (IRS) is beginning an outreach program to Americans who typically don’t file federal income tax returns and may be eligible for an Economic Impact Payment (EIP, more commonly known as a stimulus check) but have not yet registered to receive one. As part of…
Chances are that you are spending today gathered around a grill or trying to soak in some sun. Labor Day weekend is considered summer’s last hurrah and ushers in fall and, including, in areas like mine, the beginning of the school year. (You can read more about the tie-in to the school year and Labor…
Taxpayer asks: How can I update my direct deposit information with the IRS? I filed my 2019 individual return through a tax preparer & my direct deposit went to a joint account with my now ex-wife that was closed recently. All of the scenarios online do not apply to my situation, so hoping you can…