IRS

A Tennessee farmer spent 4 years trying to return a mistaken $20,000 IRS refund. Instead, he faced $4,000 in penalties; then country singer John Rich stepped in and ended the dispute

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A Tennessee farmer spent 4 years trying to return a mistaken $20,000 IRS refund. Instead, he faced $4,000 in penalties; then country singer John Rich stepped in and ended the dispute

After a four-year battle with the IRS, Wilson Perry Kirby, a Middle Tennessee farmer, finally got an acknowledgement that the government had indeed made a mistake. In 2022, Kirby received a $20,000 tax refund he knew wasn’t meant for him. Instead of cashing it, he immediately tried to return the money. But instead, the IRS … Read more

IRS 2027 tax brackets: How much can you earn before hitting the 37% tax rate?

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IRS 2027 tax brackets and projected 37% federal income tax thresholds (REUTERS/Ken Cedeno/File Photo) (REUTERS)

The 37% federal income-tax bracket could start at higher income levels in 2027. A preliminary estimate puts the start of the 37% tax bracket at more than $793,650 in taxable income for married couples filing jointly. For single taxpayers, the 37% bracket could start at more than $661,375 in taxable income. These are early estimates … Read more

Colorado farmer Marc Arnusch turned down solar leases on 2,700 acres; instead he chose a conservation easement to protect the family farm, then faced an IRS audit

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Colorado farmer Marc Arnusch turned down solar leases on 2,700 acres; instead he chose a conservation easement to protect the family farm, then faced an IRS audit

Colorado farmer Marc Arnusch had a straightforward choice: accept millions of dollars from solar companies seeking to lease 2,700 acres of his family’s farmland, or keep the property in agriculture for the next generation. He chose the farm. Now, after spending nearly $1 million documenting a conservation easement, he is facing an IRS audit over … Read more

Iowa man shocked after IRS claws back tax refund, says he owes $10,000 in 1996 payment

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Hindustan Times News

An Iowa man faces an IRS debt claim stemming from a 30-year-old overpayment in Social Security benefits. Iowa man Christopher Storm was shocked after the IRS took his tax refund to recover old Social Security debt. The American Sun reported, citing IRS records, that the IRS said Storm received more Social Security benefits than he … Read more

Can you get a $6,700 tax refund? IRS Rules Explained

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Hindustan Times News

As the April 15 filing deadline approaches, thousands of Americans may be eligible for significantly higher tax refunds this year thanks to recent federal reforms that introduced expanded credits, Mirror America reports. The potential refund growth comes from the combination of two major benefits: the adoption tax credit and the child tax credit (CTC). (Reuters) … Read more

New IRS portal makes it easier for taxpayers to report tax fraud and scams; here’s what to know

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Cricket in L1

Internal Revenue Service (IRS) has launched a new centralized system to make it easier for taxpayers to report tax fraud and other illegal activity online. The IRS has launched a new online system to make it easy for taxpayers to report tax fraud, consolidating multiple channels into a single portal. REUTERS/Jonathan Ernst/File photo (Reuters) Old … Read more

Will Americans be eligible for bigger tax refunds in 2026? what to know

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Cricket in L1

Many U.S. taxpayers could get bigger tax refunds Application seasonthanks to expanded deductions introduced in last year’s sweeping tax legislation. Tax professionals say the changes could significantly reduce the taxable income of some workers, seniors and buyers, potentially increasing refunds. According to the IRS, early filing data already indicates an upward trend in refunds this … Read more

Make money on Instagram or YouTube? What content creators must report to the IRS

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Cricket in L1

As social media content creation evolves into a significant source of income, many influencers are finding that online income comes with real tax liability. Creators who make money through platforms like Instagram and YouTube must follow the same tax rules as other self-employed individuals, USA Today reports. Tax experts say most influencers are independent contractors … Read more

IRS refund details: Will you pay $1,390 this month? it’s a fact

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Cricket in L1

Rumors are circulating online about a $1,390 payment from the IRS. Social media posts and unofficial websites claim Americans may be eligible for new federal stimulus checks or special rebates. However, there are no official plans to approve such payments. U.S. Internal Revenue Service (IRS) (AFP/Getty Images) according to IRS), Congress has not approved any … Read more