PYMNTS

AUGUST 15, 2019

The Internal Revenue Service has issued another warning to cryptocurrency investors with federal returns that don’t match the information received from virtual currency exchanges. The IRS is expanding efforts involving virtual currency, including increased use of data analytics,” said IRS Commissioner Chuck Rettig.

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PYMNTS

JUNE 29, 2020

The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.

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Audit IRS Tax Refunds Returns 69

PYMNTS

JANUARY 11, 2021

There were around 13 million defunct accounts that accidentally received stimulus check payments by the IRS , which the agency is now attempting to get to their right places, according to The New York Times on Sunday (Jan. The tax-prep companies say they're working to help the IRS resolve the issue.

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PYMNTS

MAY 7, 2020

Any $1,200 COVID-19 stimulus checks sent to dead people by the Internal Revenue Service (IRS) must be returned, the agency says. However, the erroneous payments to dead people may have come about because the IRS largely sent out payments based on people’s tax returns for 2018 and 2019.

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IRS Checks Direct Deposit Returns 64

PYMNTS

APRIL 27, 2020

Those who had trouble utilizing the IRS’ “Get My Payment” web tool to access their personal stimulus funds may now find it easier to use after updates were made, per reports. According to the IRS, the updates will make it easier for individuals to add direct deposit information and check the status of their funds.

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IRS Checks Direct Deposit Social Security 61

PYMNTS

JANUARY 8, 2021

The IRS is supposed to distribute all payments by Friday, Jan. Eligible taxpayers who didn’t receive their payment will need to claim it on their 2020 tax returns, CNBC reported. People have been frustrated by not being able to reach the IRS about the payments.

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Debit Card Checks IRS Direct Deposit 129

PYMNTS

APRIL 5, 2020

Online tax preparation service TurboTax has announced that it is rolling out a free, stimulus registration solution to assist people who are not required to file a tax return. The IRS will be using federal tax returns from 2018 or 2019 to determine eligibility. There are roughly 10 million people in the U.S.

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PYMNTS

MAY 11, 2020

The Internal Revenue Service (IRS) says it’s making progress distributing stimulus checks, and there’s still time for recipients to get their checks direct deposited. We are working hard to continue delivering these payments to Americans who need them,” said IRS Commissioner Chuck Rettig in a statement. The payments, part of the $ 2.2

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Direct Deposit IRS Checks Social Security 64

PYMNTS

FEBRUARY 19, 2020

The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The overall theme will be balancing taxpayer services with the IRS’ regulatory needs. million.

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PYMNTS

JANUARY 10, 2018

Stripe has announced an addition to its Stripe Atlas toolkit that will help founders file their corporate tax returns in minutes. In fact, 54 percent of Atlas founders reported making a mistake when filing last year’s returns, including paying the incorrect amount, filing late or missing required filings entirely.

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PYMNTS

APRIL 9, 2020

The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). For security reasons, the IRS will mail letters to recipients at their last known address within 15 days after the payment is made.

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PYMNTS

APRIL 23, 2020

One 73-year-old Connecticut resident is wondering if she’s eligible for payment based on her 2018 or 2019 tax returns after being laid off from a nonprofit. Holtzblatt said the IRS “didn’t have much time” to ensure that everything worked correctly due to the immediacy of the myriad problems the virus caused.

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PYMNTS

SEPTEMBER 21, 2020

The GAO did note that the Internal Revenue Service (IRS) implemented several recommendations to make sure people got the payments, including extended deadlines for those who hadn’t filed an income tax return until Sept. However, the GAO still said the IRS had to update the information on how many people hadn’t seen their money yet.

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Checks IRS Returns Governance 91

PYMNTS

AUGUST 4, 2020

The IRS has reportedly gotten much of the money back, putting out instructions for those who received checks for dead family members on how to return it. And it turns out that sending checks to dead people isn’t the government’s only worry; the whole process is a creating a health risk at the IRS. Roughly 10 percent of U.S.

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Checks IRS Tax Refunds Returns 97

PYMNTS

APRIL 17, 2018

While Americans rush to file their taxes this Tax Day, some computer systems at the Internal Revenue Service (IRS) are “experiencing technical difficulties.” As a result, the agency said it is having trouble taking in returns from tax preparers, The Wall Street Journal reported. This year, Tax Day falls on a Tuesday (April 17).

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PYMNTS

OCTOBER 25, 2019

24) that a report from the Treasury Inspector General for Tax Administration claims the IRS is not effectively auditing corporations following tax examination reform that was designed to accelerate auditing processes. Finance predicting more IRS tax reforms ahead. Bloomberg reported on Thursday (Oct.

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PYMNTS

MARCH 21, 2017

The Internal Revenue Service (IRS) continues its efforts to gain access to United States Coinbase customer accounts, filing new documents in federal court to get the California-based company to turn over the records. The IRS filed its initial request — known as a “John Doe” summons because it doesn’t name a specific person — in November 2016.

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PYMNTS

JULY 15, 2020

Today (July 15) is Tax Day , and despite it coming three months later than normal due to COVID-19, several million Americans will be scrambling to get their returns (or at least their applications for extensions) out the door by midnight. Those returns don’t present much of a challenge during the pandemic.

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PYMNTS

MAY 1, 2020

Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal Revenue Service (IRS). . This conclusion is consistent with prior guidance of the IRS.”. This treatment prevents a double tax benefit,” the agency said in the notice.

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PYMNTS

NOVEMBER 18, 2016

17) of a new tax bill scam in which unwitting consumers receive a fake IRS notice that contends they owe the government money because of the Affordable Care Act. The IRS said lots of people have received the fake notices, which typically say a taxpayer owes money from the year earlier under the Affordable Care Act.

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PYMNTS

MAY 6, 2020

This will help on two levels, both enabling easier access to money for these citizens as well as allowing the IRS — the agency responsible for these payments — to find their records with more ease. The IRS itself has also crafted a tool of its own for underbanked consumers called Get My Payment, which enables stimulus check tracking.

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The Paypers

MARCH 24, 2016

(The Paypers) The IRS is now taking up to 21 days to review a tax return which in 2015 took 7 days to review, a recent report unveils.

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IRS Returns 28

PYMNTS

MAY 13, 2020

The IRS is seeking to have contractors assist in auditing digital currency tax returns, according to a post on CryptoTrader.Tax ‘s website.

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IRS Bitcoin Error Resolution Digital Currency 52

PYMNTS

FEBRUARY 26, 2020

Following a five-day trial in the Western District of Washington, Kvashuk was convicted of five counts of wire fraud, six counts of money laundering, two counts of aggravated identity theft, two counts of filing false tax returns, and one count each of mail fraud, access device fraud, and access to a protected computer in furtherance of fraud.

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IRS Identity Theft Crime Digital Currency 82

PYMNTS

APRIL 29, 2020

Treasury Secretary Steve Mnuchin says $1,200 stimulus checks from the government were sent in error , and relatives and family members should return the money. It’s unclear exactly how many of those checks were sent, and the IRS could take any number of actions to try and get back any payments it believed were made in error.

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Checks Treasury IRS Returns 56

PYMNTS

NOVEMBER 16, 2018

There’s just one, small, fizzly problem for the IRS. Hence the IRS and its five tons of cash to process. Or, if reports are correct, the IRS has actually outsourced that process to a Virginia company for $1.7 How exactly it helps the IRS count and manage all that cash is something of a mystery.

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The Finance Weekly

FEBRUARY 10, 2024

The IRS doesn't tolerate late payments. The final day of tax document submission to the IRS. March 15, 2024 Filing of annual tax returns for partnerships, S Corporations, and multi-member LLCs. Deadline of tax returns for partnerships, S Corporations, and multi-member LLCs who were granted an extension.

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FICO

MARCH 8, 2021

This year the Internal Revenue Service (IRS) will start accepting 2020 tax returns on February 12 , about two weeks later than usual. That’s positive news—because you definitely want to file your tax return as soon as possible, particularly if you’re claiming a refund. Why is that important? File early. Monitor your credit.

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Tax Refunds Identity Theft IRS Returns 52

PYMNTS

JUNE 29, 2020

The Internal Revenue Service (IRS) noted that these payments would arrive much faster if recipients arranged for direct deposit rather than receiving a check in the mail, driving many Americans to open online accounts specifically for this purpose.

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Online and Mobile Banking IRS Adjustments Checks 126

Segpay

FEBRUARY 28, 2024

Merchant Acquirers/Payment Facilitators, Merchants, and Content Creators are ALL required to file tax returns. In 2008, the IRS passed legislation that required Merchant Acquirers/Payment Facilitators to report on any merchant that processed over $20,000 in annual volume or 200 transactions. Simply submit a request for an extension.

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IRS Returns Facilitators Acquirers 52

The Fintech Times

OCTOBER 18, 2024

The 2024 edition also plans to introduce a bespoke Corporate-Access event with First Abu Dhabi Bank (FAB) having already joined the initiative with a lead role in facilitating meaningful connections between IR officers and Investors from both local and international Buy-Side.

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IRS Returns Facilitators AI 52

The Paypers

FEBRUARY 14, 2019

(The Paypers) The IRS has planned to expand its voluntary program for taxpayers who wish to obtain IP PINs and are not currently victims of tax return identity theft.

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IRS Identity Theft Returns 28

PYMNTS

MARCH 26, 2016

A loan company employee has pleaded guilty to stealing identities of several customers and fraudulently seeking $400,000 in tax returns. The government alleges that the two co-conspirators worked together to get away with the tax returns. Huff returned half of the money to Battle and kept the remaining balance.

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Identity Theft Treasury Checks Debit Card IRS 56

PYMNTS

MAY 5, 2019

The calls, which came in the form of letters sent to the IRS and FTC from presidential hopefuls Senator Elizabeth Warren and Bernie Sanders among other lawmakers, stem from allegations the companies didn’t promote free government tax preparation options to customers, reported CNBC.

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Blocks FTC IRS Federal Trade Commission 43

PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015. On the other hand, around that same time the IRS released data showing that phishing and malware incidents in the 2016 tax season increased by 400 percent.

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IRS Phishing Tax Refunds Returns 57

Payment Savvy

JULY 18, 2023

An employer identification number, or EIN, is a unique, nine-digit number issued by the Internal Revenue Service (IRS). It serves as a way for the IRS to track and communicate with taxpayers. If you look through your previous tax returns or other documents issued by the IRS, you’ll be sure to spot them.

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PYMNTS

DECEMBER 15, 2020

residents who are not required to file tax returns, typically because they fall below the income threshold, passed Nov. 21, meaning many l ow-income families were the last to receive stimulus funding from the IRS. The stimulus payment deadline for U.S.

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