Guidance coming on tax aspects of cryptocurrencies

Congress is getting serious about addressing the confusion surrounding the tax treatment of digital assets such as cryptocurrencies. A bipartisan bill dubbed the Responsible Financial Innovation Act was recently introduced in the U.S. Senate. The bill would establish a regulatory framework for digital assets. The first-of-its-kind proposed legislation would attempt to validate the mainstream use […]

A walk thru of the new IRS voice bot

A short video explaining how the new automated system works. IRS Authenticated Collection Voice Bot https://bit.ly/3O32vyz

Are you a tax whiz? Take the quiz

Invasion of the bots?

IRS rolls out artificial intelligence to help callers make payments, resolve simple tasks – ABC News https://abcn.ws/3tJvWNM

Real ID deadline approaching

The deadline for the Real ID is under a year away: Here’s how to upgrade while dodging the DMV – Grow from Acorns + CNBC https://bit.ly/3O4jqkf

Don’t fall for this scam

The IRS is cautioning taxpayers with pending tax bills to contact them directly and not use unscrupulous tax companies that falsely claim that they can resolve unpaid taxes for pennies on the dollar. Offer in compromise (OIC) “mills” make outlandish claims about how they can settle a person’s tax debt. The reality usually is that […]

LinkedIn fraud alert

FBI says fraud on LinkedIn a ‘significant threat’ to platform and consumers – CNBC https://cnb.cx/3O0afB3

Deadline approaching

An important deadline is rolling up fast for foreign entities that are subject to the Foreign Account Tax Compliance Act (FATCA). Foreign financial institutions and some nonfinancial foreign entities (collectively known as FFIs) have until July 1, 2022, to report assets that were held by U.S. owners as of Dec. 31, 2021. Generally, FATCA requires […]

Seriously delinquent tax debt

Seriously delinquent tax debt (SDTD) is no minor issue and could result in revocation of a passport. An SDTD is a federal tax liability that has been assessed, exceeds $55,000 in 2022 (inflation adjusted), is unpaid, legally enforceable and is subject to a filed lien notice or levy. One taxpayer had SDTD totaling $90,201, incurred […]

Where do homeowners pay the most in property taxes?

Where do homeowners pay the most in property taxes? – The Washington Post https://wapo.st/39u3d8N