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The IRS announced Monday that it will transition away from using a third-party service for facial recognition to help authenticate people creating new online accounts.
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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.
Looks like the proposed bank reporting rule was not included in the $1.75 trillion dollar budget reconciliation bill.
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.
The first batch of payments will be sent by direct deposit, which some recipients started receiving as early as March 12. Additional batches of payments will be sent in the coming weeks.
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 federal government could extend the 2019 annual tax-filing deadline a second time. Originally the deadline for individuals and corporations was pushed from April 15 to July 15.
As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed. The tax deadline changes the due date for last year’s taxes from April 15th to July 15th.