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Category: Tax/Tarrifs

IRS Will Offer Free Help For Those Struggling With Withholding Taxes

If the changes to tax rates and withholding over the past year have you scratching your head, help is on the way. The Internal Revenue Service (IRS) is offering a free online information session on how to do a Paycheck Checkup. Here’s why many…

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How To Turn Tax Refunds Into Savings

The ongoing flap over tax refunds has once again highlighted a serious issue: Americans use tax withholding from their paychecks as a major savings tool. They give the government more than they owe in income tax throughout the year just so they can get…

2019 Tax Refund Chart Can Help You Guess When You’ll Receive Your Money

IRS Announces Tax Season Start Date Despite Government Shutdown

The Internal Revenue Service (IRS) has announced that tax season will open on Monday, January 28, 2019. The IRS will begin accepting paper and electronic tax returns that day. The IRS made the start date announcement despite the ongoing government shutdown. “We are committed…

UK tax authority issues tax guidance for crypto users – TokenPost

Her Majesty’s Revenue and Customs, the UK government department responsible for the collection of taxes, on Wednesday published tax guidance for people who hold crypto assets. The paper, “Cryptoassets for individuals,” sets out the agency’s view of the appropriate tax treatment of cryptoassets, and…

Is There a Credit Card Rewards Tax? – Gabriel Wood

When you trade in your credit card rewards for a heap of cash back or travel credit, your moment of elation may be interrupted by a sobering thought: are these rewards taxed? After all, the IRS taxes investment income, cryptocurrency and casino winnings, so…

Patagonia’s Billionaire Founder To Give Away The Millions His Company Saved From Trump’s Tax Cuts To Save The Planet – Angel Au-Yeung

Yvon Chouinard, billionaire founder of outdoor apparel firm Patagonia, has traditionally shied away from politics. But things have changed for the rock-climbing, fly-fishing outdoorsman since Donald Trump moved into the Oval Office. On Wednesday, Patagonia announced it has an additional $10 million in profits…

Ohio Becomes The First State To Allow Taxpayers To Pay Tax Bills Using Cryptocurrency – Kelly Phillips Erb

By now, most taxpayers understand that there are tax consequences associated with cryptocurrency, but ironically, until recently you couldn’t pay those taxes using cryptocurrency. That’s about to change: With the launch of OhioCrypto.com, Ohio will become the first state in the nation to accept…

$1.6 Billion Lottery Winner Will Face Huge Taxes, Possible Lawsuits – Robert W. Wood

With no lotto winner, the combined Mega Millions and Powerball jackpots stand at an astounding $2.2 billion. Yes, billions. The Mega Millions jackpot has reached $1.6 billion while the Powerball pot is up to $620 million. These world record astonishing numbers seem even more likely to brew big…

Do You Know Who Is Preparing Your Tax Return – Megan Gorman

There is a secret in the tax business, known within the industry but rarely discussed publicly. In fact, it’s pretty hard to get anyone in tax to talk about it. Not overseas as in a tax firm’s office based in another country. Rather, overseas…

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