As part of a larger hiring effort underway, the IRS plans to hire more than 200 technologists to he

Virtual currency is a digital representation of value, other than a representation of the U.S. dollar or a foreign currency ("real currency"), that functions as a unit of account, a store of value, or a medium of exchange.

-IRS

While virtual currency has been around since 2009, it has become better know over the last couple of years. Although there are now dozens of them, some of the most popular names are bitcoin, ethereum, dogecoin and litecoin.

The Internal Revenue Service (IRS) has decided to no longer force taxpayers to submit a scan of their face to access their taxes online.

The Departments of Labor, Health and Human Services, and the Treasury  issued a set of FAQson health plans’ coverage of OTC COVID-19 tests in view of President Biden’s actions and ACA, FFCRA, and CARES Act requirements. In general, health plans and issuers must cover the cost of or reimburse participants for OTC rapid COVID-19 tests.

Taxpayers can find the amounts of their 2020 economic impact payments (EIPs) from their online account, IRS Notices 1444 and 1444-B, or their 2020 account transcript. A new IRS FAQ explains the procedure for requesting a trace to track a missing payment when the taxpayer’s online account shows a first or second EIP the taxpayer did not receive.

The American Rescue Plan Act provides tax relief to small business owners and their employees. Here are five of the tax changes:

Since they don't teach proper history in school anymore, a discussion on how totalitarian rule begins has been eliminated or is just used as a footnote somewhere along the line. But to those of us who do like to learn from history, there are two things that precede dictatorships - even those that pretend to be democracies. Those two things are:

The Speaker of the House crammed through the "Build Back Better" bill this week.  There is nothing "better" about this bill. The non-partisan Congressional Budget Office says the 2,100 page bill will cost more than $4 trillion and add at least $367 billion to the deficit over the next ten years.  There are so many problems with this terrible bill, but here are a few of the worst sections:

Now this an interesting bit of tax news out of New York:

Tax Law § 32 now requires tax return preparers and facilitators to post certain items at their places of business.

If you’re a tax return preparer or facilitator, you must post the following items—prominently and conspicuously—at every location where you provide tax preparation or facilitation services to clients: 

Nov 15 - What do the Federal Reserve and neoconservatives have in common? They both refuse to admit that their policies — the neocons’ promotion of perpetual war and the Fed's manipulation of the money supply — are complete failures, having produced the opposite of the promised results.

In their efforts to turn our country into a socialist nation (even though it has failed every time tried), these left wing wackos in Congress want to borrow 1.75 Trillion dollars and pass one of the worst pieces of legislation ever written - over 2100 pages of it. Here is some of the garbage that is in it:

Some of the worst provisions of Democrats Tax and Spend Bill

Some environmental activists at the COP26 climate conference will be urging others to cut down on air travel and eat less meat, but little has been said about the billionaires flying in on their own planes on routes already served by commercial airlines.

Amazon founder Jeff Bezos' £48million Gulf Stream has led a 400-strong parade of private jets into COP26 including Prince Albert of Monaco, scores of royals and dozens of 'green' CEOs - as an extraordinary traffic jam forced empty planes to fly 30 miles to find space to park.