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At Close: Jul 31, 2026

IRS probe targets oligarchs to ID sanctioned properties

10:00am, Tuesday, 15'th Mar 2022 The Hill
IRS investigators assigned to a task force targeting Russian oligarchs are using a variety of techniques to identify and freeze sanctioned property, with capabilities that include untangling bundles of cryptocurrency meant to obscure their ownership…

IRS FUD: What you need to know about crypto taxes

07:32pm, Monday, 14'th Mar 2022 TechCrunch
The cost of failing to report — or incorrect reporting of — proceeds from crypto-related activities could be extremely high if the IRS gets you in its crosshairs.
The cost of failing to report — or incorrect reporting of — proceeds from crypto-related activities could be extremely high if the IRS gets you in its crosshairs.

Backdoor Roth IRA Definition

06:10pm, Monday, 14'th Mar 2022 Investopedia
A backdoor Roth IRA allows taxpayers to set up a Roth IRA even if their income exceeds the IRS earnings ceiling for Roth ownership.
A group of bipartisan lawmakers is pressing the IRS for answers regarding "numerous" concerns amid a challenging tax season.

Tax Help After Natural Disasters

03:01pm, Monday, 14'th Mar 2022 Investopedia
The Internal Revenue Service (IRS) offers tax relief to people affected by natural disasters. What forms of tax help exist, and how do you qualify?
The Delaware computer repair shop owner who alerted the FBI to Hunter Biden''s infamous laptop says he''s faced harassment from Big Tech, the IRS and other government agencies ever since.
Taxes are on the minds of many this time of year with the filing deadline looming. But too often, people think about taxes only on a one-year-at-a-time basis, forgetting or putting off the need to adjust their strategy for future years – most importantly, their retirement. SEE MORE Retiring Early? A New IRS Rule Could Mean More Money in Your Pocket As you prepare for your non-working years, it’s important to consider the burden taxes can pose in retirement. Being proactive and developing a tax-efficient strategy is especially important for those who will retire soon. If you have a tax-deferred retirement account (IRA, 401(k), 403(b), SEP, etc.), you unfortunately have an account that has one of the same features as a variable-rate mortgage. At any point, the IRS can change the rate (here, though, it is the tax rate rather than the interest rate). Some financial professionals think that given our growing national debt , tax rates will likely go up at some point in the next few years – rising from the historically low rates we have now.

Wilford: Dysfunctional IRS can’t be trusted to pre-fill tax forms

05:20am, Saturday, 12'th Mar 2022 Boston Herald
It’s taking the agency an average of nearly 200 days to respond to taxpayers contesting a math error notice.
More federal stimulus checks aren’t coming, but the IRS is making every effort to ensure that those who haven’t yet claimed their stimulus payments do so. The IRS is now offering new guidance to help Americans claim their extra money. However, this new guidance is not for any direct coronavirus stimulus checks, but rather, for […]
IRS Publication 590: Individual Retirement Arrangements (IRAs) refers to an IRS document that outlines rules for Individual Retirement Arrangements.

IRS Seeks To Hire 10,000 More Workers To Relieve Backlog

04:54pm, Friday, 11'th Mar 2022 The Daily Caller
''Working tirelessly to process backlogged returns''
The IRS plans to hire 10,000 workers to help tackle a massive backlog of over 20 million unprocessed returns.
The federal tax agency says newly expanded customer callback functions have already saved taxpayers 1 million hours of hold time.
The IRS said Thursday it plans to hire 10,000 new workers to help reduce a massive backlog that the government says will make this tax season the most challenging in history.
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