What did the I.R.S. do with savings and tax brackets limits to ease the sting of inflation?When a dollar buys less than it used to, the I.R.S. lets you put […]
Income Tax
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Back to news homeThey Went Viral and Made Money. Now They Owe Taxes.
The needs of these creators vary — and fortunes can change quickly. “If you go viral, you might make $80,000 in one month,” Ms. Studley said. “Some clients are 19 […]
Black Americans Are Much More Likely to Face Tax Audits, Study Finds
WASHINGTON — Black taxpayers are at least three times as likely to be audited by the Internal Revenue Service as other taxpayers, even after accounting for the differences in the […]
Your Tax Refunds May Be Smaller This Year
Filers may want to have their returns prepared early in the filing season, so they can adjust their budget if their refund falls short of expectations. “Knowing where you stand […]
How New IRS Rules Could Affect Venmo, Zelle and CashApp Users
WASHINGTON — This year, Dennis Turbeville, a woodworker in Washington, used the mobile payment service Venmo to sell his wares, collect payments on a rental property and split personal expenses […]
Use IRS Code Section 1202 to sell your multimillion-dollar startup tax-free
Vincent Aiello Contributor Spencer Fane attorney and business owner Vincent Aiello helps businesses solve legal problems to secure revenue flow and reduce business risks. Whoever said you can’t have your […]
Britain’s Economic Experiment Stumbles at the Start
Britain’s economy has wobbled along since the financial crisis more than a decade ago, in 2008, with weak productivity and low pay. Recently, it lost its place as the world’s […]
Health Insurance Guide: Navigating Coverage in Your 20s
Georgia Lee Hussey, the chief executive of Modernist Financial, a planning firm in Portland, Ore., that helps clients make financial decisions aligned with their progressive values, noted that some young […]
Did You Sell an Old Desk Online? You May Receive a Tax Form.
The change is not meant to apply to people who are receiving payments as gifts or as reimbursements from friends after splitting the cost of a restaurant meal, said Erin […]
What You Need to Know About Biden’s Student Loan Forgiveness Plan
After making monthly payments for a set number of years — usually 20— any remaining balance is forgiven. (The balance is taxable as income, though a temporary tax rule exempts […]