What to know about the latest 1099-K tax reporting change for Venmo, PayPal
Hispanolistic | E+ | Getty Images If you’re worried about getting a tax form from payment apps like Venmo or …
Internal Revenue Service
You may get a 1099-K for Venmo and PayPal payments. Here’s how to prepare — and shrink your tax bill
Charday Penn | E+ | Getty Images If you’ve accepted payments via apps such as Venmo or PayPal in 2022, …
Tax ‘refunds may be smaller in 2023,’ warns IRS. Here’s why
If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. …
If you’re still missing your tax refund, you’ll soon receive 7% interest from the IRS — but it’s taxable
Bill Oxford | E+ | Getty Images If your tax refund is still in limbo, there’s good news: Your balance …
Biden names pick for new IRS head as agency plans for $80 billion funding, wrestles with backlog
The Internal Revenue Service building in Washington. SAUL LOEB/AFP via Getty Images New role a ‘challenging assignment,’ former IRS commissioner …
Powerball jackpot hits $1 billion — but only if you pick the less-popular prize option. If you win, here’s the tax bill
The jackpot for Powerball’s Monday night drawing is a whopping $1 billion. Sort of, anyway. The advertised number represents the …
IRS ‘fully committed’ to better customer service as agency hires 4,000 new workers
Charles Rettig, IRS Commissioner, testifies during the Senate Finance Committee hearing in Washington, D.C., June 8, 2021. Tom Williams | …
Here’s how much you can earn and still pay 0% capital gains taxes in 2023
If you’re planning to sell investments or rebalance your taxable portfolio, you may be less likely to trigger a tax …
IRS: Here are the new income tax brackets for 2023
Amid soaring inflation, the IRS this week announced higher federal income tax brackets and standard deductions for 2023. The agency …
IRS sends letters to over 9 million who could miss out on valuable 2021 tax credits. Here’s how to claim that money
Anita_bonita | Istock | Getty Images More than 9 million individuals and families could be leaving money on the table …
Key Democrat outlines 5 priorities for $80 billion in IRS funding
Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams …
The tax extension deadline is Oct. 17. Watch out for these 3 common errors, advisors warn
If you’re looking to meet the Oct. 17 tax extension deadline, make sure you don’t skip key forms as you’re …
‘The IRS is not the boogeyman.’ Here’s what to do if you still can’t pay your taxes
Srdjanpav | E+ | Getty Images The tax-extension deadline is approaching on Oct. 17, and a record 19 million Americans …
IRS erred on child tax credit payments for millions of eligible families – but aid was 98% accurate overall, report finds
The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more …
Here’s how persistent high inflation may affect your tax bracket next year
Jamie Grill | Getty Images Typically, the IRS releases inflation adjustments for the following year in October or November, and …