IRS

The Internal Revenue Service is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue, who is appointed to a five-year term by the President of the United States.

(source: irs.gov)

IRS Backs Off Fortnite Gaming Currency As Reportable Income
IRS Backs Off Fortnite Gaming Currency As Reportable Income
February 14, 2020  |  Taxes

A section of the IRS website telling people that the online currency from the popular game Fortnite was subject to federal taxes has been removed as...

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State And Local Governments Wrestle With Faster Payments
State And Local Governments Wrestle With Faster Payments
January 27, 2020  |  Disbursements

Legacy technology issues abound these days, but for sheer scale (and a good giggle) always look to the government. In 2018, one laughable incident involved...

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Helping Nonprofits Embrace Cash Management
Helping Nonprofits Embrace Cash Management
December 02, 2019  |  Spend Management

There are approximately 1.56 million active nonprofits in the United States. These groups often have limited resources and must work carefully to demonstrate to donors...

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Will The IRS Take A Bite Out Of Crypto’s Wild Ride?
Will The IRS Take A Bite Out Of Crypto’s Wild Ride?
November 12, 2019  |  Cryptocurrency

April is months away, but tax season is likely top of mind for crypto holders. To that end, in the United States, the Internal Revenue...

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IRS Questioned Over Corporate Auditing Lag
IRS Questioned Over Corporate Auditing Lag
October 25, 2019  |  B2B Payments

The U.S. Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. Bloomberg reported on Thursday (Oct. 24)...

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Bitcoin’s Murky Trail Across Dark Web Gets Some Light
Bitcoin’s Murky Trail Across Dark Web Gets Some Light
October 18, 2019  |  Cryptocurrency

Proponents of cryptos tout anonymity, the fact that digital coin transactions are hard to trace, and that blockchain allows for transactions to occur pretty much...

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Bitcoin Daily: China Construction Bank Grows Blockchain Platform; IRS Tax Forms Now Ask About Crypto
Bitcoin Daily: China Construction Bank Grows Blockchain Platform; IRS Tax Forms Now Ask About Crypto
October 14, 2019  |  Bitcoin

China Construction Bank’s vice president has revealed that the bank has added new abilities to its trade finance blockchain platform, including cross-chain and inter-bank transactions....

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Bitcoin Daily: Bitcoin Rises After Recent Crash; IRS Delivers New Rules For Crypto Investors
Bitcoin Daily: Bitcoin Rises After Recent Crash; IRS Delivers New Rules For Crypto Investors
October 10, 2019  |  Bitcoin

A new phishing sextortion campaign is now asking for ransom demands of alternative coins. “Typical sextortion scams claim to have installed malware on recipients’ systems...

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Square Launches SMB Tax ID Tool
Square Launches SMB Tax ID Tool
September 16, 2019  |  SMBs

Square has announced a new, free tool to help businesses file for an Employer Identification Number (EIN) called the EIN Assistant, according to a release....

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