6 Things To Know About Your Side Hustle & Taxes
Thinking of picking up a side hustle? Here’s what you need to know about reporting your extra income on your tax return.
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Massachusetts Gives Up On New Internet Sales Tax Rule Before It Even Takes Effect
Just days before Massachusetts was set to enforce a new revenue directive, the Commonwealth has changed course. Directive 17-1 which sought to impose the collection of sales tax on certain out-of-state businesses has been revoked.
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Massive Cyberattack Traced To Tax Software
A worldwide cyberattack that affected companies in 64 different countries, including those in the United States, caused panic in a some sectors yesterday. Now, Microsoft believes it can trace the origins of the cyberattack to a Ukrainian company’s tax accounting software.
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IRS Crime Chief Stepping Down
After serving for more than five years, the head of the Internal Revenue Service’s Criminal Investigation Division (IRS-CI), Chief Richard Weber, is stepping down. Weber announced his departure this month, saying, “It’s time.” He continued, “It’s time to start a new challenge.”
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IRS Private Debt Collectors Accused Of Pressuring Taxpayers, Breaking The Law
In response to complaints about how private debt collectors are handling taxpayer accounts, four Senators have sent a letter Pioneer Credit Recovery, one of the companies which has a debt collection contract with the Internal Revenue Service (IRS).
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Millennials Most Likely To Fall Victim To Tax & Financial Scams
A survey suggests that millennials are more likely to fall for financial scams, including tax scams, than older generations.
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IRS Issues Warning On New Twist To Scam Targeting Tax Professionals
Scammers clearly aren’t taking a break this summer. The IRS, state tax agencies and the tax industry, as part of the Security Summit, is warning tax professionals to beware of phishing emails claiming to be from a tax software education provider and seeking sensitive preparer data.
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IRS Reopens PTIN System Shut Down Following $175 Million Class Action Ruling
The Internal Revenue Service (IRS) has reopened its Preparer Tax Identification Number (PTIN) System. The system was shut down earlier this month following a U.S. District Court ruling which barred IRS from charging PTIN fees to tax preparers.
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Getting To Know You Tuesday: John Pantekidis
It’s Getting To Know You Tuesday! Today’s tax pro is John Pantekidis.
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Congressman Questions Why Billion Dollar Fund Hasn't Paid A Penny To Madoff Victims
Nearly ten years after the discovery of a massive fraud scheme orchestrated by Bernie Madoff – and five years after the Department of Justice created a compensation fund to deal with the aftermath – Congressman Vern Buchanan (R-FL) claims that Madoff’s victims “have not received a penny” of relief.