(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 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 →
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 →
Readers report Friday already getting their $1,400 stimulus deposits. That’s record speed given the bill was just signed into law on Thursday. Good news! Now go out and spend it. 😉 Hopefully it’ll show Monday or Tuesday for... Read More →
Swagbucks is offering 400SB ($4) cashback when using filing your tax return with Credit Karma’s free filing service. Read More →
There’s an interesting ruling which came down from a tax court yesterday with regards to a couple who used their Old Blue Cash card to earn 5% cash back to buy Visa gift cards and do prepaid reloads, and to profit on the exchange... Read More →
Reader IS250 reports on a change PayPal made for the year 2020 and beyond as they broadened the scope of 1099-K issuance to include MassPay payments received, such as payments you’ll receive from Swagbucks, Topcashback, Cardcash... Read More →
Yep, it’s that season again. Every year there’s at least one story of a bank doing something wonky with their 1099s. This year the honors go to Bank of America who are apparently sending out 1099-MISC for credit card signup... Read More →
The IRS announced that tax filing season for 2020 will be delayed a bit this year, CNBC reports. Instead of beginning late January, returns will be able to be filed beginning February 12th. This gives the IRS time for updating the... Read More →
