Fast On The Draw: Sen. Warren Says TurboTax Is Ripping Off American Taxpayers
U.S. Senator Elizabeth Warren thinks the American people could be getting ripped off in a large-scale scam. Warren and two other U.S. lawmakers accused Intuit – the developer of the most widely used tax software in the country – of recruiting former regulators to defend TurboTax products that “scam American taxpayers” into paying for things that should […]
Related News
Negativity sells. Nate Diaz, welterweight champion, has proven this as he went viral right after he lashed out at UFC for marketing his and his brother Nick’s NFT on Twitter. People have responded with dazed curiosity and excitement about 4/20. Suggested Reading | Fast On The Draw: Sen. Warren Says TurboTax Is Ripping Off American […]
Intuit, which also owns TurboTax, can't hold all the keys to consumer tax software, the DoJ says. Per an announcement and series of filings on Wednesday, the U.S. Department of Justice is calling shenanigans on Intuit's ambitions, at least in part.Intuit owns a stable of user-facing finance software, including budgeting app Mint, digital DIY tax software TurboTax, and QuickBooks, for business accounting. The firm initially announced its acquisition of Credit Karma back in February. By its own account, Intuit was paying $7.1 billion.In its antitrust case released today, the DoJ does not....
When it comes to cryptocurrency, the South American country Argentina from crypto adoption to regulations, has a long list of hot topics. As well as, according to a recent news report by local media, the tax office in Argentina has confiscated more than 1,200 cryptocurrency wallets that were connected to delinquent taxpayers. The laws and […]
The American Internal Revenue Service (IRS) has issued an FAQ sheet to provide guidance on how US taxpayers should report their transactions in Bitcoin, in accordance with the government's recent decision to treat the cryptocurrency as property instead of money. As could probably be expected, what the US government expects for its Bitcoin-using taxpayers to remain strictly legal is an absolute bookkeeping nightmare. Here's a breakdown of the information provided in the report, creatively and memorably titled Notice 2014-21: Bitcoin transactions will be taxed as property transactions. In....
An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new 'Digital Asset' category. American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined Digital Assets section that outlines if and how taxpayers will account for the use of cryptocurrencies, stablecoins and NFTs.Page 16 of the draft defines Digital Assets as any digital representations of the value recorded....