How freelancers can prepare for changing tax requirements
If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.
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Taxes
As tax season begins, the IRS faces a monumental task: Digitizing a billion pieces of paper
Even though the vast majority of people file their federal tax returns electronically, the IRS still receives millions of paper tax returns a year, along with other kinds of forms and correspondence sent via snail mail.
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Watchdog: Deal to force multinational companies to pay 15% minimum tax marred by loopholes
An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned.
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Private taxpayer data shared with Google and Meta, according to congressional report
The report highlights what legal experts described to CNN as a “five-alarm fire” for taxpayer privacy that could lead to government and private lawsuits, criminal penalties or perhaps even a “mortal blow” for some industry giants.
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Side hustles, taxes & you: You can’t hide from IRS any more, expert warns
Do you rent out your home a few weekends a year through Airbnb? Sell stuff on Etsy? Get paid for pet-sitting? If you, like many Americans, make at least US$600 a year with a side hustle of any kind, the way you pay taxes may soon change.
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New IRS rules may mean you’ll get bigger paycheck in 2023
Inflation may be pushing prices up, but it also may help push up your take-home pay starting next year. That’s as the IRS updated rules for 2023 this week.
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Lose big on crypto? You may have some options to reduce the pain
Did you or anyone you know lose money trading crypto this year? Investors who took a loss may have options to reduce the sting.
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‘Tax the rich!’ The idea is to help fix food crisis but world’s wealthy at Davos stay quiet
By Julia Horowitz, CNN Business Wealth taxes are never a popular rallying cry at Davos, a playground for billionaires, corporate titans and top politicians. But Gabriela Bucher, the executive director of Oxfam International, was still frustrated that this week’s World Economic Forum mostly looked the other way. High energy...
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NCSU study: ‘Tax haven’ companies may be less risky than investors think
Companies incorporated in tax havens are often considered more opaque regarding their finances, which could make them risky investments. But a recent study from North Carolina State University finds that many of these companies are actually more transparent than their counterparts in countries that are not tax havens.
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