Wednesday, January 26, 2022

Cash App Taxes 2022 (Tax Year 2021) Preview | PCMag

Cash App Taxes debuted five years ago under the name Credit Karma Tax. It was a unique service compared with other tax services, providing free federal and state tax preparation and filing, and supporting most major IRS forms and schedules.

Publisher: PCMAG
Twitter: @pcmag
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Traded cryptocurrency in 2021? Here’s how to approach taxes | NewsNation Now

(NerdWallet) — Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously.

So as tax season gets into full swing, here's a quick guide to which cryptocurrency activity is reportable, how it's generally taxed and the best ways to prepare.

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Publisher: NewsNation Now
Date: 2022-01-26T12:37:34 00:00
Author: Sabrina Parys NerdWallet
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Child Tax Credit: Common mistakes to avoid when filing your taxes | Marca

T he IRS is urging taxpayers to pay detailed attention due to the tax law changes that happened in 2021.

Around 160 million taxpayers will file their tax returns. However, the IRS is still dealing with past tax returns affected by the pandemic.

Publisher: MARCA
Date: 2022-01-25T22:31:03Z
Twitter: @MarcainEnglish
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United Way and WM CA$H ready to do taxes - Lewiston Sun Journal

REGION — Tax season is here, and Western Maine CA$H is READY. The Western Maine CA$H (Creating Assets, Savings & Hope) Coalition has been working hard in the off-season and we have an amazing group of volunteers who are IRS-certified and ready to prepare your taxes. For free.

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Publisher: Lewiston Sun Journal
Date: 2022-01-26T10:00:13 00:00
Twitter: @sunjournal
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Income Reporting: How To Avoid Undue Taxes While Using Cash App | GOBankingRates

The IRS recently introduced a new rule, effective January 1, 2022, that required all third-party payment apps to report business earnings of $600 or more to the IRS with a 1099-K form.

Learn: Avoid Tax Ramifications by Ensuring Your PayPal Transactions Aren't Accidentally Taxed
Discover: New Tax Rule: Ensure Your Venmo Transactions Aren't Accidentally Taxed

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Publisher: GOBankingRates
Date: 2022-01-25T12:37:03Z
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How Much Drivers Pay in Taxes at the Pump in Texas | Texas News | inforney.com

With many Americans working from home now, far fewer commuters get behind the wheel every day compared to before the pandemic. Still, travel has picked up considerably over the last year. And gas prices have followed suit.

Indeed, the price of gasoline has been a sore spot for inflation-strapped consumers. From December 2020 to December 2021, the energy index portion of the consumer price index leaped 29.3%, contributing to an overall index jump of 7%, the largest 12-month increase in nearly four decades.

Publisher: inForney.com
Author: Samuel Stebbins 24 7 Wall St via The Center Square
Twitter: @inForney
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Avoiding these common mistakes while filing your taxes can help get your best refund

RAPID CITY, S.D. (KEVN) - Liberty Tax is swarmed with phone calls and people coming in on the first day to file taxes.

Although most services throughout the pandemic have transitioned online, Shelby Dahl, general manager at Liberty Tax, says that's not the case for filing taxes.

Publisher: https://www.blackhillsfox.com
Twitter: @BlackHillsFOX
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Iowa weighs proposal to shield retirement income from state taxes | Fox Business

Americans for Tax Reform President Grover Norquist on the debt ceiling, taxes, spending and infrastructure negotiations and the possible expansion of the IRS.

The bill , sponsored by Rep. Gary Mohr, chairman of the Iowa House Appropriations Committee, would cost the state about $2 billion in revenue over the first six years by exempting income from a 401(k) plan, IRA or pension from taxation, according to The Associated Press.

Publisher: Fox Business
Date: 2022-01-25
Twitter: @FoxBusiness
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IRS Delays: Why should you file your taxes early this year? | WWLP

CHICOPEE, Mass. (WWLP) – Experts strongly recommend filing your taxes early this year as the IRS is affected by the same business constraints as the rest of the country.

Since 2010 the IRS has had to process 19 percent more tax returns and has lost 20 percent of its budget and 17 percent of its staff.

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Publisher: WWLP
Date: 2022-01-26T11:28:57 00:00
Author: Melissa Torres
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Tennessee Tax Reform: Build on Success and Improve Corporate Taxes

Tennessee made important strides in improving its tax structure when it completed phaseout of the Hall Tax—the state's income tax, which was levied only on interest and dividends income. This change was many years in the works, making Tennessee the eighth state without an individual income tax .

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Publisher: Tax Foundation
Date: 2022-01-26T12:37:39-05:00
Twitter: @taxfoundation
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