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
Hot off the press: The government announced yesterday that Social Security benefits will increase by 8.7% at the start of 2023. The Answer Everyone’s Been Waiting For Many senior citizens have been patiently waiting for the U.S. Bureau of Labor Statistics, BLS, to release the September data to confirm the increase in benefits this January. Yesterday the BLS confirmed an 8.7% increase in benefits starting in … Continue reading Government Officially Announces Social Security Benefits to Increase by 8.7% in 2023!
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
If Biden’s Inflation Reduction Act passes the House experts say it would increase inflation, not reduce inflation. Inflation Reduction Act Kamala Harris was the tie breaker in this weekend’s 51-50 Senate vote to pass the Inflation Reduction Act, a $739,000,000,000 (billion) package aimed to address energy, taxes and health care, according to Democrat leaders. Senate majority leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) … Continue reading Warning: 230 Economists Say New Inflation Reduction Act Will Create More Inflation!