The Internal Revenue Service (IRS) issued about 160 million stimulus checks to eligible Americans for the first round of economic impact payments (EIP) that began in April. Millions more payments, dubbed EIP 2, started going out in late December for the second ...

It’s not too late if you were eligible for the third stimulus payment but never received it. It was worth $1,400 to single taxpayers earning up to $75,000 and $2,800 to married couples filing jointly and earning up to $150,000 ...

According to nerdwallet.com, Small-business owners, freelancers, and other self-employed individuals face additional challenges now that new tax relief programmes and regulations are taking effect. Three tax experts, however, say that these new twists and turns may open up new avenues ...

PayPal, Venmo, and other digital payment services will be affected by these new regulations. The IRS has always required third-party payment services to report their earnings, but the rules have been tightened up recently. By 2021, the IRS would have ...

Government officials had 6.7 million unprocessed individual returns on December 4, 2021. Millions of amended returns have not yet been processed into this total. During the Covid-19 pandemic, the agency’s budget and workforce shrank, causing a backlog. The IRS is ...

Some will have to file tax returns this year because of the surge in popularity of cryptocurrencies after record-setting gains in value (which have since dwindled) (IRS). Virtual currency is defined by the IRS as “a digital representation of value, ...

Financial experts have warned that this year’s tax refund may be smaller than usual if you’re used to receiving one at this time of year. It’s possible that millions of Americans will see their refunds reduced in 2022, or even ...

At The Center Square in Washington, D.C. Internal Revenue Service backlogs are being slammed by both Republicans and Democrats. President Joe Biden’s monthly child tax credit, part of a $1.9 trillion “COVID relief” bill, may be partly to blame for ...

The tax season for 2022 began this week, and the IRS is hopeful that this year’s filing will move more smoothly than the last two. The pandemic has caused a backlog of more than six million unprocessed tax returns for ...

The new benefits are expected to reach 1.3 million people in 700,000 households, the Governor’s Office said. Michigan households still need help to put food on the table due to growing costs, Governor Gretchen Whitmer said. “We will continue to ...