Almost a month after the IRS warned Americans to report transactions over $600 from 3rd party facilitators, they announced it would be delayed. IRS Delays $600 Reporting Two days before Christmas, the IRS announced that its $600 reporting threshold for third-party payments has been delayed and wouldn’t take effect during next year’s tax season. The $600 reporting threshold became law in the American Rescue Plan of … Continue reading IRS Delays $600 Reporting For Third-Party Payments
Oops! According to a recent tax audit, the IRS sent over $1 billion to the wrong people during the COVID pandemic in 2021. A Big Mistake by the IRS WND News reported that the Internal Revenue Service (IRS) sent over $1.1 billion in child tax credits to the incorrect recipients in 2021 during the pandemic. An audit by the Department of the Treasury’s Inspector General … Continue reading The IRS Sent $1.1B To The Wrong People
The Biden administration vowed not to use the Inflation Reduction Act’s $80 Billion to the IRS, to audit Americans making less than $400,000. The IRS’s Targets The IRS just received $80 billion in funding from Washington, stating it will be used to target audits on the wealthier class who make $400,00 and up. The US Treasury is disputing that the new IRS funding from the … Continue reading Is Middle-Class a Target For Biden’s IRS Audits?