Sites like Amazon and eBay have made it very compelling for consumers to buy online rather than in stores, in part because prices are very competitive and in many cases cheaper than what buyers might find in traditional retailers. But in the U.K., it turns out that some of those low prices are in part […]
View More UK has ‘red flagged’ 4,600 sellers for tax evasion on marketplaces like Amazon in 2 yearsCategory: taxes
TurboTax, Quicken, QuickBooks, and more tax software on sale
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Filing your taxes can be complicated and tedious. While April 15 may still feel like the distant future, the truth is that many people will wait until the last minute to finish their taxes just under the wire.
However, there are some people who finish their taxes within weeks of the new year so they can get their tax return in the mail as soon as possible. This is a smart move — especially when you consider all the early deals on tax software that are already floating around.
We know doing your taxes isn’t the most glamorous way to spend your time, but we found amazing deals on tax software from Quicken, Intuit, TurboTax, H&R Block, and more to guide you through the mind-numbing process. The faster you submit your tax return, the faster you’ll get your money back. Read more…
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View More TurboTax, Quicken, QuickBooks, and more tax software on saleAs bitcoin tanks, Ohio decides to let businesses use it for tax payments
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You could be forgiven for having missed it.
Amidst a massive and ongoing decline in the price of bitcoin — the cryptocurrency saw a 40 percent loss of value over the last month alone — a small bit of good news has emerged for the decentralized faithful. Specifically, the state of Ohio announced it will allow businesses to use bitcoin for tax payments.
But don’t get too excited: This option is presently still off limits for your average Joe Citizen.
What’s more, you definitely shouldn’t read this as some sort of government signal that the price is going to the moon. Ohio has zero plans to HODL. That’s right, even though Ohio Treasurer Josh Mandel has made it possible for mom and pop shops to unload their unwanted crypto while simultaneously paying off their tax burdens, the state will not be left holding any bags. Read more…
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View More As bitcoin tanks, Ohio decides to let businesses use it for tax paymentsA simple Google search led to the biggest scoop of the Trump tax story
Never underestimate the power of a well-worded Google search.
On Tuesday, the New York Times published an expansive investigation that uncovered the complicated, and legally dubious, financial history of the Trump family. It exposed definitively that…
Congressional bill would improve startup valuations
Late last week, Congress moved one step closer to passing the American Innovation Act of 2018, a bill that would make accounting and tax changes that would likely increase the valuation of startups in an acquisition. The House Ways and Means committee approved a bill containing text that would improve the treatment of Net Operating Losses (NOLs) for startups. While many startup founders would probably rather […]
View More Congressional bill would improve startup valuationsAmazon halved its UK corporation tax bill despite tripling profits
Amazon Services profits tripled in the UK last year. But, despite this, it has managed to halve its UK corporation tax bill.
Per figures posted publicly on Companies House, Amazon’s corporation tax bill was £4.5m last year, down from £…
US taxpayer data went missing thanks to IRS carelessness, says report
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An IRS warehouse in Tennessee holding taxpayer data did not know it was holding taxpayer data, found a new analysis by the Treasury Department.
In fact, the top official at the warehouse learned from the inspector that taxpayer information was being stored there.
“If appropriate officials are not aware that [personally identifiable information] has been transferred into a system that was not originally designed to protect PII, they cannot adequately protect that data or take steps to prioritize necessary resources to appropriately manage the system from a security and risk perspective,” reads the audit by the Treasury Inspector General for Tax Administration. Read more…
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View More US taxpayer data went missing thanks to IRS carelessness, says reportSeattle reverses controversial tax Amazon opposed, just a month after approving it
In an embarrassing and mystifying about-face, the Seattle City Council has repealed a tax it passed unanimously just a month ago that would require large companies to pay a fixed amount per employee; the money would have been used to combat homelessness. Amazon was the most high-profile opponent of the tax, but not the only one by far, and apparently the Council decided that fighting the business community was “not a winnable battle.”
View More Seattle reverses controversial tax Amazon opposed, just a month after approving itSeattle passes new tax on large companies despite Amazon’s howls of protest
Seattle’s city council voted unanimously to approve a new tax on the largest employers in the city, despite strong opposition by Amazon and other affected companies. The tax, on companies with more than $20 million in receipts, will amount to about $275 per employee and is intended for use in improving conditions for the city’s homeless.
View More Seattle passes new tax on large companies despite Amazon’s howls of protestAmazon halts Seattle expansion over city tax proposal
Even as Amazon continues to grow at a staggering rate, it is pumping the brakes on its long-planned hometown expansion. The retail giant threw down the gauntlet this week when it announced that it would stop construction on a new building because of a proposed city tax. The new law is designed to address Seattle’s […]
View More Amazon halts Seattle expansion over city tax proposalIRS payment site crashes on tax day
Twitter’s brief morning outage was stressful enough — but those who’ve waited until the last possible moment to pay their tax bills have a much more distressing site crash to worry about: The Internal Revenue Service’s Direct pay site is down the day taxes are due. It’s been experiencing issues for a number of hours […]
View More IRS payment site crashes on tax dayThese software tools will make your last-minute tax hell manageable
It’s tax season, and we all know what that means: procrastinating on doing your taxes until the very last minute.
Look, we get it. Taxes are a complicated, convoluted process, and you shouldn’t spend more time on them than you absolutely have t…