Columbus, OH

Reuters

(Reuters) - The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.

US Treasury finalizes new crypto tax reporting rules

Oslo, Norway – June 28, 2024 – Bitguana, an innovative peer-to-peer (P2P) alternative finance platform, regulated by the Norwegian Financial Services Authority (Finanstilsynet) has confirmed a very successful launch this month, having been able to publish loans with yields as high as 18% per annum. Bitguana offers crypto-backed...

Bitguana.com P2P platform launched offering yields in USDt of up to 18% per annum

Bolivia’s central bank, Banco Central de Bolivia, has lifted its ban on Bitcoin and crypto payments, allowing financial entities to conduct transactions with digital assets in a bid to modernize its payment system. The central bank said the move was made to help Bolivia elevate its struggling economy and...

Bolivia lifts ban on Bitcoin, authorizes crypto transactions via banks

The Director General of the Securities and Exchange Commission (SEC) in Nigeria, Emomotimi Agama, has highlighted the potential of cryptocurrency to significantly benefit the country’s unbanked population. According to local news media, at the 2024 Annual Conference of the Association of Capital Market Academics of Nigeria, Agama projected that...

Nigeria’s SEC boss says crypto can aid 38M unbanked

Update June 28, 13:20 pm UTC: This article has been updated to attribute quotes to Tim Frost. Yield App, a Seychelles-incorporated crypto investment platform, announced on June 28 that it would halt all operations on its platform with immediate effect. An official statement said the decision “had been made to...

Crypto platform Yield App shuts down citing FTX losses

The US Sun

AMERICAN taxpayers may still be eligible for a $1,400 stimulus payment. The federal government launched a stimulus program during the coronavirus pandemic to provide economic relief. Although most Americans received their payments in 2020 and 2021, those who missed out can still claim the Recovery Rebate Credit. The credit is refundable and is awarded to […]

Americans can still get $1,400 extra payment from the IRS – the three criteria you must meet to be eligible for funds

Many seniors are unsure about their tax responsibilities. Particularly concerning Social Security income. It's commonly questioned when they may stop filing taxes on these benefits. Those whose sole income is Social Security likely don't need to file a federal income tax return. Senior citizens, especially, have distinct guidelines to consider....

When Are Senior Citizens Exempt from Filing Taxes on Social Security Income?

Finurah

Michael Jackson’s family, his children Prince, Paris, and Bigi, along with his mother, Katherine, are cut off from his trust fund until the late Jackson’s […]

Michael Jackson’s Mom And Kids Cut Off from Trust Fund Amid $700 Million IRS Dispute

USA TODAY

The program mentioned in the social media posts was part of the American Rescue Plan and ended in 2021.

IRS advance child tax credits from 2021 not returning in 2024 | Fact check

The Motley Fool

Major changes to Social Security will be announced that day, including a 2025 COLA.

October 10 Is a Huge Day for Social Security This Year. Here's Why.

Your article was successfully shared with the contacts you provided. The Internal Revenue Service and Treasury Department have announced a forthcoming crackdown on “basis shifting,” a technique that allows for complex business partnerships to move assets from one entity to another to avoid taxes. The IRS and Treasury...

IRS to Crack Down on Tax-Dodging Asset Shifts

The IRS is opening a new front in its campaign to tighten tax enforcement, the latest step the agency is taking after it received a $60 billion pot of extra funding earlier in the Biden administration. The administration is launching a regulatory campaign focused on businesses set up as partnerships,...

IRS launches crackdown on business taxes

The IRS has released new guidance for individuals considering early withdrawals from their retirement accounts. Typically, there is an additional 10% tax applied when withdrawing funds. New Exceptions Allow Emergency Withdrawals from Retirement Plans. However, starting from the beginning of this year, certain circumstances have allowed for exemptions, such as...

IRS Updates Rules on Early Withdrawals for Personal Emergencies and Domestic Violence

Snopes

Online users looked for answers in June 2024 after noticing Google's trending searches displayed something about $8,700 stimulus checks from the IRS.

Fact Check: IRS Issuing $8,700 Stimulus Checks to Qualifying Americans in 2024?

The U.S. government has laid a clear path to apply for the newly available $12,000 stimulus check. This financial assistance, a relief beacon, comes under the Earned Income Tax Credit (EITC) program. Aimed at aiding low to moderate-income citizens, the scheme promises to put extra money in Americans' pockets, boosting their finances and the country's economy.

$12,000 Stimulus Check: Steps to Apply and Maximize Your Tax Relief Revealed by Government

uInterview.com

The children and mother of the late King of Pop, Michael Jackson, have been blocked from receiving funds from his trust until a longstanding legal issue is resolved. According to court documents, Prince, 27, Paris, 26 and Bigi Jackson, 22, as well as their grandmother, Katherine, 94, have been temporarily prevented from accessing the funds from Michael Jackson’s trust. The root of this issue lies in an ongoing dispute between the singer’s estate and the Internal Revenue Service (IRS).

Michael Jackson’s Kids & Mother Blocked From Receiving Funds From Singer’s Trust Due To IRS Battle

FinanceBuzz

Now is the time to make sure your tax return for 2025 is better than it was this year.

9 Things You Can Do Right Now for a Bigger Tax Return in 2025

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LCF News Express

As we approach the midpoint of the year, an essential update in the realm of Social Security awaits: the COLA 2024 adjustment. This increase, formally known as the Cost-of-Living Adjustment (COLA), is a vital mechanism designed to ensure that Social Security and SSI benefits keep pace with inflation. The significance of this adjustment cannot be overstated, as it affects millions of Americans who rely on these benefits for a significant portion of their income, including retirees and individuals receiving disability benefits.

COLA 2024: Key Social Security Updates for July

The IRS had been taking about 19 months to identify legitimate taxpayers and issue refunds, but now it's taking even longer, according to a new report.

IRS criticized for taking nearly 2 years to help ID theft victims get their refunds

Child Tax Credit – How Much Families Can Receive Monthly. Navigating the Expanded Child Tax Credit – Rules and Eligibility Explained. According to the article of CNET, starting July 15, families began receiving monthly Child Tax Credit payments until December 2021. Children under 6 could get up to $300/month, and those aged 6 to 17 up to $250/month. The remainder of the credit will be distributed during the 2022 tax season. Dependents aged 18 or older won’t receive monthly payments but could qualify for a $500 one-time payment next year if claimed. Full-time college students aged 19 to 24 can also receive this $500 credit if they live in the same household.

$300 Monthly: Child Tax Credit Explained for Families in 2021 – Must Know!

NewsBreak

Australia’s revamped data program to ‘catch out’ crypto tax cheats

The Australian Tax Office (ATO) will be closely watching those who cashed in their crypto gains ahead of the country’s financial year ending on June 30,...

Australia’s revamped data program to ‘catch out’ crypto tax cheats

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