If You Give or Receive Cash, You Need to Know These 6 tax rules
The IRS may require you to report whether you are giving or receiving cash. You must be aware of when and how to report money to the IRS, whether you give financial gifts to family members or earn cash tips as part of the gig economy.Depending on whether cash is considered income or a gift, […]
Sub-Freezing Temperatures Expected this Thursday through Sunday Across Greater Houston
We at Rick S. Vourganas CPA take pride in our neighborhoods and love our neighbors. While we enjoy keeping our readers up on the latest tax and IRS news we also want to keep our neighbors safe. Here is some info about the upcoming weather and how to stay safe.As an arctic front moves toward […]
The IRS Issues a 50% Penalty for Failing to Make Required Retirement Withdrawals.
Over the years, millions of Americans had small amounts of money taken out of their paychecks before taxes were collected and put into retirement plans. The Internal Revenue Service is reminding these taxpayers, who are either already retired or getting ready to retire, that they have to take money out of their retirement accounts.The IRS […]
New IRS Rule Concerning Payments Via Venmo, Cash App & PayPal May Affect Millions.
Taxpayers may be “shocked” by the lower bar for reporting Venmo, Cash App & PayPal revenues. Online earners in the United States may be in for a harsh surprise when they submit their taxes in 2023. This is due to the fact that starting in 2018, taxpayers will have to report to the IRS any […]
IRS reports significant increase in texting scams; warns taxpayers to remain vigilant
The Internal Revenue Service today warned taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information.
