Cryptocurrencies are now more popular than ever. But if you own or trade crypto, IRS wants to know about it.
Earnings over $600 through third-party payments apps will now be reported to the IRS. The new rule went into effect on January 1, 2022.
The Internal Revenue Service announced that this year’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.
The Treasury Department has announced a new tool to register for the monthly child tax credit created under the American Rescue Plan. This is designed to help families who normally aren’t required to file tax returns.
A group of about 10 major banks, including Chase, Wells Fargo, and U.S. Bank, will begin sharing information about customers’ deposit account records with each other as an alternative underwriting method for credit cards.
Venmo today announced the launch of crypto on Venmo, a new way for Venmo’s more than 70 million customers to buy, hold and sell cryptocurrency directly within the Venmo app.
Visa today announced that it will allow the use of USD Coin (USDC), a stablecoin backed by the US dollar, to settle a transaction with Visa over Ethereum.
The Wall Street Journal has published a report today saying that the Justice Department has opened an investigation into Visa’s debit card business and possible anticompetitive practices. Visa shares dropped 4.54% after the report.
The Internal Revenue Service is planning to delay the April 15 tax filing deadline by about one month to taxpayers additional time to file returns and pay any amounts owed to the IRS.
The no-fee stock trading app Robinhood was hit with class-action lawsuits Thursday almost immediately after restricting the trading of stocks popularized by a Reddit forum. Several Robinhood users filed separate lawsuits against the brokerage app.
Congress included up to $284 billion toward the small business loan program as part of the Covid-19 relief package that went into effect near the end of 2020.
The survey shpws the effect of the pandemic on consumer credit markets, with most credit application and acceptance rates falling sharply after February 2020.
The pandemic has wreaked havoc in businesses, financial markets, travel and social life, schools and more in recent months. But when it comes to credit cards, there’s some good news. Debt has been decreasing and now the average U.S. FICO® Score has increased to 711 on average.
Netflix customers can possibly improve their FICO® Score by adding their positive payment history through Experian Boost. It already allows consumers to receive credit for paying their cable bills, so paying for a video streaming service is something similar and paying it timely every month could add a few points on your score.
The FICO Resilience Index operates on a scale of 1 to 99, with lower scores indicating greater financial resilience in an economic downturn. Consumers with scores in the 1 to 44 range are viewed as the most prepared and able to weather an economic shift.