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

McPhersonBuzz News

The US Treasury and IRS are proposing new tax regulations aimed at closing tax loopholes used by the wealthy to inflate deductions, potentially generating $50 billion in additional tax revenue over the next decade, as part of efforts to address significant tax evasion among top earners. US Treasury and IRS Target Tax Loopholes Costing $160 […]

$160 Billion Tax Shortfall: US Treasury Cracks Down on Tax Loopholes – Seeking $50 Billion in Revenue with New Regulations!

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

The Internal Revenue Service (IRS) has finalized new regulations that limit partnership conservation easements. The move aims to curb the abuse of these tax deductions. The finalized rules address concerns over inflated valuations and improper use by partnerships to gain undue tax benefits. Under the new regulations, partnerships will face...

IRS finalizes regulations on conservation easements

Kiplinger

Many landlords are eligible to take the 20% tax deduction for qualified business income

Landlord With Rental Income? See if You Qualify for a 20% Tax Break

Frenzied discussions are circulating a potential Internal Revenue Service (IRS) stimulus payment that could put $8700 in the pockets of American families. With charitable interpretations of recent tax law adjustments at play, it is essential to disentangle fact from hopeful fiction. This analysis offers a granular look at the situation unfolding across the nation.

Is the IRS Really Giving an $8700 Stimulus Check to Americans?

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?

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

GOBankingRates

When it comes to paying taxes, the majority of Americans typically e-file their taxes and pay by drawing money directly from their bank account. In fact, e-filing has become the most popular form of...

2 Reasons To Pay Your Taxes With a Credit Card

FinanceBuzz

While an audit can happen to anyone, they're more common among tax returns that include these triggers.

8 Common Reasons the IRS Will Audit You

Your choice to set up a revocable vs. irrevocable trust could have a big impact on your heirs.

Revocable vs. Irrevocable Trusts: What You May Not Know

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

The Motley Fool

Got some cash put aside for unplanned expenses? See why you should resist the impulse to lock it up in a CD.

Never Put Your Emergency Fund in This Bank Account

Your article was successfully shared with the contacts you provided. “It would almost be malpractice for any financial or tax advisor to ignore the coming tax storm,” according to Ed Slott of Ed Slott & Co. That’s one of the central themes in his new book, “The Retirement Savings...

Ed Slott: IRAs Are a Ticking Tax Bomb

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. KEY POINTS. Wealthy people can afford to...

3 Things Rich People Do With Their Money That You Probably Don't

SheKnows













	The finances of Michael Jackson’s three children, Prince, 27, Paris, 26, and Bigi, 22, along with his mother, Katherine Jackson, 94, came to a screeching halt this week as the late pop star’s estate battles the IRS. The fight between the federal agency and the estate began three years ago and it’s only getting messier.Tom Cruise Is Facing 'the Most Stress' in His Career Ahead of Mission: Impossible 8 Release




	The Jackson estate was audited by the IRS several years ago, and in court documents obtained by People, the agency claimed it had “undervalued its assets” which resulted in an additional...

Michael Jackson’s Kids Are Feeling the Effects of His Estate’s Expensive IRS Dispute

Whether you embrace cryptocurrency or view it as risky, digital currency is unlikely to disappear anytime soon. Millions of people have turned to Bitcoin and other cryptocurrencies — such as Ethereum and Tether — when making or accepting payments. But why?. Recently, the U.S. Federal Reserve released its...

Here’s the Real Reason People Use Cryptocurrency

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

Mobile phones purchased from a carrier are generally locked to that carrier until either the contract is up or the phone is paid off. But despite improvements to the process over the years (unlocking was flat-out illegal not long ago), it still isn’t quite clear to all consumers when and how they can unlock their phone and take it to the carrier (or country) of their choice.

FCC rule would make carriers unlock all phones after 60 days

This is by far the simplest way to retire a millionaire.

1 Retirement Savings Hack That Has Created Many Millionaires and Will Continue to Make More

NewsBreak

IRS finalizes new regulations for crypto tax reporting

Those are the main takeaways from new regulations that the IRS and U.S. Department of Treasury finalized Friday — essentially implementing a provision of the Biden...

IRS finalizes new regulations for crypto tax reporting

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