Survey finds Majority of crypto investors still aren’t ready to file their taxes

From CNBC; Majority of crypto investors still aren’t ready to file their taxes, survey finds – CNBC https://cnb.cx/3JcManv

Report on Recovery Rebate Credit payments

The good news is that the IRS correctly calculated and issued advance Recovery Rebate Credit payments (authorized by the American Rescue Plan Act of 2021) to more than 166.6 million Americans by Sept. 16, 2021. That’s according to an audit by the Treasury Inspector General for Tax Administration. But despite a 99.48% success rate, the […]

IRS’s Office of Fraud Enforcement update

Bad actors, beware! As the director of the IRS’s new Office of Fraud Enforcement (OFE) explained to an American Bar Association audience, the tax agency is aggressively pursuing emerging fraud threats. For example, OFE is training IRS agents and officers to look for fraud when conducting civil audits and training some to become experts on […]

Social Security Offices Re-Open Today!

Social Security Administration to Resume In-Person Services at Local Social Security Offices https://bit.ly/3DFnyTm

FBAR deadline coming

If your assets include foreign bank and financial accounts, you must annually file a Report of Foreign Bank and Financial Account (FBAR). The IRS is reminding affected taxpayers that the deadline to file an FBAR generally is April 15. Specifically, taxpayers must file FBARs if they have financial interest in or signature authority over bank […]

Spotlight on the IRS Criminal Investigation Unit

The IRS is highlighting the work of its Criminal Investigation (CI) unit. Two fact sheets detail the CI’s work on financial crimes such as money laundering, terrorist financing, cybercrime and sanctions evasion, which includes investigating and seizing assets of wealthy Russians. As described by the IRS, CI is the only U.S. law enforcement body authorized […]

2022 Q2 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing […]

Where’s my refund?

Myths about federal tax refunds keep coming and the IRS is continuing to combat misinformation. One common myth is that if you get a refund this year, there’s no need to adjust your withholding for 2022. That may not be true if you want to avoid surprises next year. You can use the IRS Tax […]

Is a Settlement or Judgment Taxable?

Tax law excludes from “gross income” damages received for “personal physical injuries or physical sickness,” if certain conditions are met. The damages must be based on a wrongful act resulting in injury and they must be awarded for physical injuries or illness. There must be a “direct causal link” between the damages and the injury. […]

It’s almost that time of year again! If you’re not ready, file for an extension

The clock is ticking down to the April 18 tax filing deadline. Sometimes, it’s not possible to gather your tax information and file by the due date. If you need more time, you should file for an extension on Form 4868. An extension will give you until October 17 to file and allows you to […]