Lawmakers are calling on the Internal Revenue Service (IRS) to provide additional guidance on taxation of cryptocurrency. The House Ways Committee Chairman along with others on his committee sent a letter to the IRS to question enforcement actions taken against taxpayers holding virtual currencies.
If you owe the Internal Revenue Service (IRS) money, you are not alone. An estimated 8.26 million federal income tax accounts went into delinquent collections in 2017. A common reason for unexpected tax bills: 1099-MISC statements from the IRS.
Natural disasters can happen anywhere in the country. The Southeast may currently dominate newsfeeds as it prepares for a hurricane, but Minnesotans are also dealing with natural disasters as many find themselves the victims of floods.
The Internal Revenue Service (IRS) is encouraging taxpayers to review their withholding status and make changes if necessary. Without action, the agency estimates 10 million United States taxpayers could face an unexpected tax penalty on their 2018 returns.