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Internal Revenue Service

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Business & Lifestyle

IRS delivers first coronavirus stimulus deposits to Americans’ bank accounts

WASHINGTON (UPI) -- The Internal Revenue Service (IRS) announced that the first round of payments distributed as part of a coronavirus relief package have been deposited in Americans' bank accounts. "IRS deposited the first economic impact payments into taxpayers' bank accounts today," the agency wrote on Twitter Saturday afternoon. "We know many people are anxious to get their payments; we'll continue issuing them as fast as we can." The distributions were established by a $2.2 trillion relief package signed in […]

todayApril 13, 2020 73

Business & Lifestyle

South Korea considering a crypto income tax of 20%

SEOUL (Heartland Newsfeed) -- Crypto holders living in South Korea may want to keep an eye out on recent actions being pursued by their government. A report released Monday from South Korean-based Yonhap News Agency revealed the country's Ministry of Economy and Finance's (SKMEF) tax office is reviewing a proposal that could result in the adoption of a cryptocurrency income tax, which could be as high as 20 percent. An unidentified official who spoke with Yonhap suggests that South Korea […]

todayJanuary 20, 2020 76

cryptocurrency IRS
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Business & Lifestyle

CONFIRMED: IRS trains staff on finding cryptocurrency wallets

WASHINGTON (CoinDesk) -- The U.S. Internal Revenue Service (IRS) may consider subpoenaing major tech companies like Apple, Google and Microsoft in search of taxpayers’ unreported cryptocurrency holdings. That’s according to a slide deck presentation from an IRS cyber training session, which details a number of ways the agency’s criminal investigators might find potential crypto tax cheats. “Issuance of a grand jury subpoena should be considered for Apple, Google and Microsoft for the subject’s complete application download history,” says the slide […]

todayJuly 13, 2019 80

Social Security card
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Business & Lifestyle

Social Security Administration imposters top IRS in consumer loss reports

Have you received calls about supposed problems with your Social Security number from callers pretending they’re with the Social Security Administration (SSA)? If so, you’re not alone. Our latest Data Spotlight finds that reports about SSA imposters are surging, while reports about IRS imposters have taken a dive. As the Spotlight puts it, “In the shady world of government imposters, the SSA scam may be the new IRS scam.” While reports of SSA imposters have swelled – nearly half of […]

todayMay 19, 2019 54

Henry Bloch H&R Block
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Business & Lifestyle

H&R Block co-founder Henry Bloch dies at 96

KANSAS CITY (UPI) -- H&R Block co-founder Henry Wollman Bloch died at the age of 96 on Tuesday, the company announced. The tax services provider did not disclose the cause of Bloch's death, but stated that he died peacefully surrounded by his family. "Through his honesty and integrity, Henry embodied the best of American business, entrepreneurship and philanthropy. In so many ways, he was ahead of his time and a model for today's entrepreneur," H&R Block President and CEO Jeff […]

todayApril 23, 2019 38

Illinois tax returns
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Financial News

Illinois to start accepting tax returns Monday

SPRINGFIELD (Illinois News Network) -- The state of Illinois says it'll start processing tax returns on Monday, but it will be a while before you get your refund. If you file your Illinois taxes online, have your money deposited directly into your bank account and have an error-free tax return, you could see your refund in about a month. The Illinois Department of Revenue said it will start accepting tax returns Monday. The same day that the Internal Revenue Service will […]

todayJanuary 27, 2019 42

Business & Lifestyle

Christian County Sheriff issues advisory regarding IRS scams

TAYLORVILLE (Heartland Newsfeed) -- The Christian County Sheriff’s Department has received several complaints from citizens reporting they have received phone calls from people claiming to be the Internal Revenue Service (IRS). The caller will ask for personal information such as social security numbers or bank account numbers. The caller may also demand payment via prepaid credit cards or even iTunes cards. The callers may even disguise the phone number they are calling from to make it show up on caller […]

todayMay 22, 2018 53

Business & Lifestyle

Coinbase hit with two class-action lawsuits, one claiming insider trading

SAN FRANCISCO (Heartland Newsfeed) -- The popular cryptocurrency exchange Coinbase will be facing two new class-action lawsuits in Federal court, one of which accuses the exchange of insider trading. The first suit, filed Thursday, claims that Coinbase employees unfairly profited from the December listing of Bitcoin Cash (BCH), citing that the August spinoff from Bitcoin (BTC) and December 19 trading launch resulted in the price skyrocketing to nearly $1,000. Additionally cited that while this news was a surprise to everyone, […]

todayMarch 6, 2018 56

Business & Lifestyle

Blackburn business students to assist with filing tax returns

CARLINVILLE (Heartland Newsfeed) -- The business department at Blackburn College will be offering IRS tax law-certified volunteers to assist low-to-moderate income taxpayers seeking help filing their taxes or are unable to electronically file their returns due to lack of computer or Internet access. Beginning Tuesday, Feb. 20 through April 13, Blackburn business students who are certified under the Internal Revenue Service's Facilitated Self Assistance (FSA) program will offer filing assistance for individuals choosing to electronically file their tax returns. These […]

todayFebruary 18, 2018 80

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