Decades of IRS underfunding are now painfully evident. Taxpayers are suffering and faith in our democracy declines. The Biden Administration and Congress must act now to turn around this disaster that was long in the making and easily predictable.

Watch live: Michael Madigan indicted on federal racketeering charges

10:22pm, Wednesday, 02'nd Mar 2022 Chicago Tribune
The U.S. attorney’s office, FBI, and IRS Criminal Investigation Division will a hold a press conference at 4:30 p.m. to “announce an indictment in a public corruption investigation.”
The IRS is working through a huge backlog of tax returns, so get yours filed as soon as possible to avoid a delay in your tax refund.
New Jersey congressman Josh Gottheimer held a press conference on Monday that might have dismayed any of you hoping to get your IRS tax refund soon. The big takeaway: Don’t be surprised if your refund is late this time around. In fact, really late. “Since the start of the pandemic alone, we’ve helped claw back … The post Don’t be surprised if your IRS tax refund is delayed this year appeared first on BGR .
Form 1040 is the IRS tax form individual taxpayers use to file their income tax returns each year. Here''s how Form 1040 works and the different types.

IRS Issues Proposed RMD Regulations

03:54pm, Wednesday, 02'nd Mar 2022 Wealth Management
Designated beneficiaries may be disregarded in certain situations.

Trading Crypto? Here''s What You Need to Know at Tax Time.

08:30am, Wednesday, 02'nd Mar 2022 Barron''s
While digital assets pose some murky tax questions, there are key steps that investors can take to minimize problems with the IRS.
NEW YORK , March 1, 2022 /PRNewswire/ -- Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a quarterly distribution of $0.23 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on March 24, 2022 to stockholders of record at the close of business on March 11, 2022 (ex-dividend on March 10 , 2022). The price of shares issued for reinvestment will be determined on March 18, 2022 . The Fund has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 7% of the rolling average of the prior four calendar quarter-end net asset values (NAVs), with the fourth quarter distribution being the greater of 1.75% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund''s Board of Directors. The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital.
Fresh stimulus checks aren’t coming, but it is possible that stimulus payments are resulting in people getting higher refunds this year. As per the latest data from the IRS, the average refund issued so far this year is more than that of last year. It is believed that a connection between stimulus checks and tax […]
SEATTLE , March 1, 2022 /PRNewswire/ -- ZenLedger , the global leader in cryptocurrency tax software and blockchain analytics, has announced today the renewal of its contract with the Civil and Criminal Investigation Units of the IRS, making the platform the IRS'' preferred provider of forensic accounting and taxation software for cryptocurrencies. The renewal cements ZenLedger as the most comprehensive and trusted in crypto tax and accounting services for consumers, enterprises, and government entities. … Full story available on Benzinga.com

Getting a Refund From the IRS? 3 Top Stocks You Can Buy

09:36pm, Monday, 28'th Feb 2022 The Motley Fool
If you have some unexpected cash on hand that you don''t need immediately, this is a great time to buy stocks.
SAN JOSE, Calif. , Feb. 28, 2022 /PRNewswire/ -- Who : Jaideep Singh , CEO and Co-Founder of FlyFin and FlyFin''s CPA Team As tax day ( April 18, 2022 ) approaches in America, this year will prove to be more complicated for filing tax returns than ever before, especially if you are filing as self-employed, freelancer, or a gig worker. Moreover, due to the various scenarios created by the pandemic, there may be other considerations for tax filings - such as child tax credits, PPP loans, home office deductions, and state filing laws as a remote worker. The IRS has already announced that refunds this … Full story available on Benzinga.com
Services like PayPal and Square now need your tax information. Scammers are going to be on the prowl to get it too Thanks to new legislation that went into place at the beginning of this year, I predict that a lot of unsuspecting small business owners are about to fall victim to a fresh scam. The scam will relate to legislation around new tax reporting rules that will affect millions of freelancers and small businesses. As I explained in an earlier column , beginning for the 2022 tax year, if you receive more than $600 in total payments during the course of the year from a payment service like PayPal, Venmo (which is owned by PayPal), Square, Stripe or online sales of your products made through Amazon, Etsy and other marketplaces – regardless of how many customers are paying – that payment service is required to report that amount to the IRS and to you by sending a Form 1099-K – used for reporting payments via these third parties – in early 2023. Continue reading…

Get Up to $2,000 for Contributing to a Roth IRA in 2022

10:56am, Sunday, 27'th Feb 2022 The Motley Fool
The IRS grants tax breaks to many individuals who save money in a qualified retirement account. Do you qualify?

Budgeting Basics for Wealth, Health and Happiness

09:30am, Sunday, 27'th Feb 2022 Kiplinger
Budgeting is the first step toward financial planning. It includes a series of questions about how you spend your hard-earned money. And being accountable for your inflows and outflows is a healthy exercise for strengthening your ability to save and plan for your future. Having a budget helps us live within our means and avoid spending more than we make. SEE MORE Why Inheriting Money May Not Solve Your Problems While it might take work at first, in the long run, budgeting will secure you the financial stability needed to acquire wealth, and equally as important, peace of mind. 3 Good Reasons to Make a Budget The importance of budgeting varies according to many factors. While not everyone needs to budget equally, there are essential situations to consider. Get Your Finances Organized. If your financial recordkeeping is a mess, you need a budget. You need to understand what the inflows and outflows are that got you into this mess and start to keep track of where your funds are going. Maintain Financial Goals.
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