Cashing Out Bitcoin: What To Know About Tax And The IRS

If you’ve sold some Bitcoin, it is important that you know Uncle Sam wants his share too. Back in 2014, the IRS issued Notice 2014-21 stating the government’s position on what they call “virtual currencies.” It stated that such assets are considered property rather than currency. Under the rules for sales of property such as stocks,… Please follow and like us:

Read More

Uninsured rate rose in Donald Trump’s first year: Gallup poll

An estimated 3.2 million Americans became uninsured during President Trump’s first year, Gallup said Tuesday in a survey that says rising premiums, declining competition in Obamacare markets and confusion over the GOP’s repeal plans drove the losses. The polling company said the uninsured rate stood at 12.2 percent at the end of last year, an increase… Please follow and like us:

Read More

New IRS tax withholding tables mean your paycheck might be getting a little bigger soon

So who’s ready for a fatter paycheck starting next month? RELATED: This new Trump tax calculator shows how much you’ll pay going forward New withholding rules mean more money in your pocket The Internal Revenue Service is out with new withholding tables for companies to follow when calculating your paycheck going forward. Employers may begin using… Please follow and like us:

Read More

Another Sign Of Cryptocurrency Regulations?

The noose of regulation seems to be closing around the Medusa’s head-like neck of cryptocurrencies. After months of monitoring by various agencies, the financial services panel of the Senate will meet top market regulators early in February to discuss bitcoin and other cryptocurrencies, as well as the possible risks their trading poses, Reuters reported Wednesday. Citing… Please follow and like us:

Read More

The IRS has spoken. Can you deduct your 2018 property tax prepayments?

Taxpayers are scrambling to prepay their 2018 property taxes and municipal clerk offices are adding hours to cope with the demand as homeowners look to save money before new limits on state and local tax deductions kick in. It’s not entirely clear yet, however, whether all of those efforts will pay off. Here’s what local government… Please follow and like us:

Read More

Tax moves you may want to consider before the end of 2017

You probably already know that big changes in the tax code are going to take effect starting January 1, 2018. What you may not know is that there are still a number of things you can do over the few couple of days to potentially leverage those changes to your own benefit. And there are other… Please follow and like us:

Read More

Final Bill Brings New End-of-Year Tax Tips as 2017 Year-End Deadline Approaches

Final Bill Brings New End-of-Year Tax Tips as 2017 Year-End Deadline Approaches FOLSOM, Calif., Dec. 20, 2017 /PRNewswire/ – TaxAudit, the tax audit representation specialists, has updated its 2017 year-end tax tips to reflect the new tax bill coming into effect next year. TaxAudit offers income tax audit representation to individual taxpayers, small businesses, and professional… Please follow and like us:

Read More

Tech support scams hitting more computer users online

CHICAGO – For consumers who turn over control of their computers to remote technicians online, the fix may already be in. A growing number of remote tech support scams are popping up, in which users facing “crashed” computers give online access for repairs that do nothing more than drain their wallets, according to a study released… Please follow and like us:

Read More

Senate Appropriations Bill Gives SEC More Funds for Tech

The Senate Appropriations Committee’s just-released FY 2018 financial services bill allocates $1.8 billion for the Securities and Exchange Commission, which is equal to the FY2018 budget request and includes $245 million for the SEC’s potential headquarters relocation. SEC Chairman Jay Clayton said in June that the SEC budget request for fiscal 2018 of $1.602 billion is… Please follow and like us:

Read More

5 biggest reasons to hate the IRS tax code

President Donald Trump has proposed what he calls “the biggest tax cut since Ronald Reagan.” He also wants vast simplification so that Americans can fill out their taxes on a postcard return. Let’s hope that part of this reform package will be to de-fang the IRS, which treats Americans as if they are guilty until proven… Please follow and like us:

Read More

The Real Vampire Squid: Debt Service

Our new Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing is certain except death and taxes. – Benjamin Franklin, letter to Jean-Baptiste Leroy, November 13, 1789. Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to… Please follow and like us:

Read More

IRS suspends Equifax contract, cites ‘new information’

ATLANTA — The Internal Revenue Service has suspended its $7.25 million contract with Atlanta-based Equifax, the agency announced Friday. The decision came a day after the company was forced to shut down one of its customer service websites, a page that had been manipulated by hackers who had apparently placed malicious software on the site. That… Please follow and like us:

Read More

Senators slam Equifax for making money off massive data breach and no-bid IRS contract

WASHINGTON — Senators on Wednesday slammed Equifax Inc. for making money off its massive data breach and said Americans should have more control over the vast amount of sensitive personal information that credit reporting companies have about them. “Equifax and this whole industry should be completely transformed,” Sen. Elizabeth Warren, D-Mass., told former company chief executive… Please follow and like us:

Read More

Left-wing, mud-slinging Southern Poverty Law Center on the defense

WASHINGTON, September 1, 2017 – The Southern Poverty Law Center (SPLC) claims to be a watchdog over “hate groups and racial extremists throughout the United States.” But perhaps the SPLC is a radical left-wing organization itself, with an extremist agenda of its own. According to a June 21, 2017 article in the Wall Street Journal, “Aided… Please follow and like us:

Read More

Billionaires in Their 80s Lead IRS Study of U.S. Wealth

Age ain’t nothing but a number, but a higher number can also equal billions. The latest iteration of Bloomberg’s Billionaires Index showed that six out of the 25 richest Americans are all older than 80, citing tax data and estimates gleaned by the Internal Revenue Service. The most famous examples of octogenarian billionaires are Berkshire Hathaway’s… Please follow and like us:

Read More