A new report from a government watchdog discovered that the Internal Revenue Service (IRS) paid out between $5.9 billion and $7.1 billion in bogus child care credits last year to individuals who were not eligible to receive them in the first place. According to an audit by J. … [Read more...]
IRS discovers 318,000 fed workers, retirees owe $3.3 billion in back taxes
The Internal Revenue Service (IRS) announced last Thursday that more than 318,000 federal workers and retirees owe more than $3.3 billion in back taxes to the federal government, a 2.6 percent jump from the previous year. This accounts to about 3.3 percent of the overall 9.8 million … [Read more...]
Brazil mimics IRS by declaring bitcoin as capital gains taxable
The Brazilian government has confirmed that it will be treating bitcoin as a security and prompt investors to file it on their tax forms as capital gains. Therefore, Brazil would not be classifying bitcoin as a legitimate currency, according to Claudemir Malaquias, the Chief of Tax … [Read more...]
IRS doles out 48 million refunds with $3,034 average
It’s that time again: tax season, a period of the year when millions of Americans pull their hair out, dig through old receipts and research endlessly on the Internet searching for tax deductions, tax exemptions and tax papers. It’s indeed a very busy time for everyone from coast to … [Read more...]
Special Assistance Day for Gulf Oil Spill Victims
This is a follow up to my last post about the IRS "helping" oil spill victims. On Saturday July 17th the IRS Taxpayer Assistance Centers in several locations will be open to help victims of the BP oil spill. Locations open July 17th from 9am to 2pm: - 1110 Montlimar Drive, Mobile, … [Read more...]
