IRS

The Internal Revenue Service is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States.

Source: irs.gov

IRS Punts on 1099-K Wage Threshold

IRS Punts on 1099-K Wage Threshold
IRS Punts on 1099-K Wage Threshold
December 23, 2022  |  Taxes

The Internal Revenue Service (IRS) has delayed implementing a lower threshold for the 1099-K form.  Get the Full Story Complete the form to unlock this article and...

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IRS Says US Unemployment Comp Hit $405B During Pandemic
IRS Says US Unemployment Comp Hit $405B During Pandemic
November 20, 2022  |  Economy

Unemployment compensation in the U.S. jumped by 1,794% between 2019 and 2020 as Americans were hit by a wave of layoffs during the COVID-19 pandemic....

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Zelle Says Its Service ‘Not Subject’ to IRS Reporting
Zelle Says Its Service ‘Not Subject’ to IRS Reporting
November 07, 2022  |  Taxes

Gig workers and small business owners are reportedly using the payment service Zelle to avoid declaring taxable earnings to the IRS.  Get the Full Story...

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FDIC Chair: Stablecoins Could Bring Bank Consolidation, Disintermediation
FDIC Chair: Stablecoins Could Bring Bank Consolidation, Disintermediation
October 20, 2022  |  Cryptocurrency

Stablecoins have the potential to “fundamentally alter the landscape of banking,” the head of the Federal Deposit Insurance Corporation said in a speech on Thursday...

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Report: IRS ‘Steps Up’ Work to Find Crypto Tax Evaders
Report: IRS ‘Steps Up’ Work to Find Crypto Tax Evaders
September 26, 2022  |  Cryptocurrency

The Internal Revenue Service (IRS) has reportedly “stepped up” its pursuit of taxpayers who haven’t reported and paid taxes on cryptocurrency transactions by getting a...

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Report: ‘Human Coding Error’ Caused IRS Posting of Confidential Data 
Report: ‘Human Coding Error’ Caused IRS Posting of Confidential Data 
September 02, 2022  |  Safety and Security

Names, contact information and some financial information of about 120,000 people was reportedly posted in error by the Internal Revenue Service (IRS) on its website....

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Why a Senate Bill’s $50 Tax Exemption Won’t Boost Crypto Spending
Why a Senate Bill’s $50 Tax Exemption Won’t Boost Crypto Spending
July 26, 2022  |  Cryptocurrency

A pair of U.S. senators have introduced a bipartisan bill to exempt low-value cryptocurrency transactions from capital gains tax reporting requirements. Get the Full Story...

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Americans Earning More Interest on Late Tax Refunds
Americans Earning More Interest on Late Tax Refunds
May 09, 2022  |  Taxes

The Internal Revenue Service is set to pay billions in interest to tax filers as it struggles to process tax refunds. Get the Full Story...

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US Treasury Rule Could Pave Way for On-Demand Wage Payments
US Treasury Rule Could Pave Way for On-Demand Wage Payments
May 05, 2022  |  Payment Methods

Each year, the U.S. Department of Treasury issues its General Explanations of the Administration’s Revenue Proposals, commonly known as the “Green Book.” This year, the...

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