(Update 5/10/23: Checks are soon going out, per CNN) TurboTax from Intuit has agreed to pay out $141 million to millions of customers who used the ‘free’ filing service, yet ended up having to pay for the service. The... Read More →
Tag - taxes
Which Banks Send Out Tax Form 1099? (Discussion Post for 2022 Tax Forms)
[Update 3/28/23: Added a bunch of things below. Reposting now since Public sent out corrected form 1099s now with the bonus included there, along with some other minor (for me) changes. You can find it here.] January and the ensuing... Read More →
Capital One Counts Global Entry Credit On Form 1099-MISC
Viewfromthewing heard in a statement from Capital One that they count TSA Precheck/Global Entry credits in your form 1099-MISC toward the $600 threshold. Here was the official statement: Required reportable payments include certain... Read More →
[Arizona State] Donate $1,100+ And Get It Back With Tax Credit ($2,200+ Per Couple)
(Update 1/18/23: Reposting for 2022/2023 taxes; let us know if there are similar programs – I believe Ohio has one now) Reader Ana Acosta and some Reddit users let us know about a few tax credit opportunities for residents of... Read More →
Amex & Chase Offers On Tax Software
There are a number of AmEx Offers, Chase Offers, and other deals available for tax software and tax services: TurboTax AmEx Offer: Get a one-time $10 statement credit by using your enrolled eligible Card to make a single purchase of $50... Read More →
IRS Delays $600 Tax Reporting Threshold For One Year
In March 2021, congress passes a law requiring payment processors (like Paypal, Venmo, shopping portals and more) to issue a Form 1099-K to anyone with $600+ in payments processed. See these posts: Stimulus Bill Requires Payment... Read More →
[Update: Fixed, Refund] PSA: Don’t Pay Taxes With ACI Payments Via Paypal (Cash Advance Fee)
Update 11/19/22: ACI is now sending out $10 compensation to Paypal accounts which made a payment when there was a cash advance issue to compensate for any fees. Interestingly, some people who never got hit with any fees still got the... Read More →
IRS Increases Interest Rate To 4% On Delayed Tax Refunds
The IRS has increased the interest rate for delayed tax refunds for 2022 from 3% to 4%. This apparently went into effect on April 1st, but I just read about it in media reports today. IRS link The IRS pays out interest if they delay... Read More →
[Expired] Bluebird/Serve: Get $30 Bonus With Tax Refund Direct Deposit
Bluebird is offering a $30 bonus when you have your tax refund deposited directly by April 30 Read More →
About That 1099-K From Paypal
There’s been a lot of discussion about the new 2022 federal rule strengthening the requirement for payment processors and businesses to issue a form 1099-K, see Stimulus Bill Requires Payment Processors & Businesses To Report... Read More →
Get 1,000 Southwest Points When Using Any Version Of TurboTax (Includes Free Version)
File with TurboTax and get 1,000 Southwest points when you click through the Rapid Rewards Shopping portal. TurboTax Online Federal Products qualifying for 1,000 Rapid Rewards bonus points are the 2019 online version of TurboTax Free... Read More →
Credit Karma Tax Now ‘Cash App Taxes’
Credit Karma tax has now rebranded and is called ‘Cash App Taxes‘. There are no fees to use the service, but you do need to log into your cash app account to be eligible to use the service. Intuit had previously purchased... Read More →
Stimulus Bill Requires Payment Processors & Businesses To Report Earnings of $600+ on 1099-K Tax Form (e.g. Paypal, Portals, eBay, Uber)
(Seems the final version of the bill DOES have section 9674, so we are on the hook for this after all. Bummer!) Beginning on January 1, 2022, third party payment processors will have to report any income for goods or services exceeding... Read More →
[Update] Stimulus Round 3: $1,400 Checks; Increased Benefits for Unemployment, Food Stamps, Child Credits & More
Update 3/25/21: IRS has released guidance indicating that unemployment income (all of it – even above $10,200) does not count toward the $150,000/$75,000 income threshold. This makes a lot more people eligible for the $1,400... Read More →
IRS Delays U.S. Tax Deadline For One Month
The IRS has delayed the U.S. tax deadline for a month due to the pandemic. CNBC reports the new deadline will be on May 15th, a Saturday, while Bloomberg reports that it’s still up in the air whether it’ll be May 15th or May... Read More →