Counties with a higher proportion of low-income or residents who are Black or Hispanic are more likely to also have storefront offices of paid tax preparers, according to a new report. Paid preparers can often make mistakes in filing that can lead to errors or smaller refunds, and often leverage their services to charge high … Read more
By Fatima Hussein | Associated Press WASHINGTON — The IRS is warning taxpayers that they may be leaving more than $1 billion on the table. The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total … Read more
Home News IRS Officer Narendra Kumar Yadav Appointed As Brand Ambassador for Fit India Movement The Fit India movement, a government initiative led by Prime Minister Narendra Modi, has appointed IRS officer Narendra Kumar Yadav as its new brand ambassador. Narendra Kumar Yadav, IRS first civil servant Appointed as Brand Ambassador for Fit India Movement … Read more
By Fatima Hussein | Associated Press WASHINGTON — The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS. Tax revenues are expected to rise by as much as $561 billion from … Read more
Taxpayers, start your engines! The tax season officially opened January 29, and the IRS expects more than 128 million individual tax returns to be filed. To mark the event, here are some important facts: Tax filing deadline For most taxpayers, the deadline to file their personal federal tax return, pay any tax owed or request … Read more
The Federal Trade Commission (FTC) ruled Monday that the maker of TurboTax is deceiving customers when it claims a version of its online tax filing software is free, when most customers would have to pay for it. The FTC’s opinion states that Intuit’s TurboTax Free Edition, marketed as a stripped-down version of its paid software … Read more
Companies that offer insurance in case of a major tax bill are having a banner year as governments across the globe implement new rules to go after corporate tax evaders. Underwriters and tax insurance brokers say their business is in the middle of a boom and that new insurers offering tax-related products are entering the … Read more
Mumbai: Domestic and European banks have started regular talks with the Clearing Corporation of India (CCIL) to build structures needed for third-party clearing of government bonds and derivatives, paving the way for starting trades worth billions of dollars that may otherwise have stalled due to a stand-off between the regulators home and away. “Banks and … Read more
FILE: Bitwise South Stadium, in Fresno, Calif., is permanently closed for the company’s former employees. Bitwise declared bankruptcy in June. Henry A. Barrios/The Washington Post via Getty Images Federal officials alleged this week that the two leaders of a Fresno-based tech company defrauded investors out of tens of millions of dollars to prop up their struggling … Read more
A home equity loan is a type of second mortgage — meaning a mortgage that’s in addition to the main mortgage you already have on your property. zhangshuang/Getty Images Home equity loans have been a popular tool for homeowners in recent years. In fact, according to TransUnion, nearly 240,000 home equity loans were issued in … Read more