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Taxes
Yes, you can check the status of a delayed tax refund
Vaccines
Yes, a Rhode Island bill aims to fine, tax eligible residents if they aren’t vaccinated against COVID-19
Under a recently proposed Rhode Island Senate bill, eligible residents would have to get the COVID-19 vaccine or face a monthly fine and pay double their income tax.
Money
Yes, you still have to pay taxes even if you don’t have a bank account
During a civil trial, Blac Chyna said she didn’t pay taxes or have a bank account. The IRS says not having a bank account doesn’t preclude you from taxes.
Taxes
No, filing a tax extension doesn’t increase your risk of being audited
If you need more time to file your 2021 taxes, a tax extension won’t increase your risk of being audited, the IRS and two tax professionals told VERIFY.
Money
Yes, if the deficit shrinks by $1.3 trillion it would be the largest one-year reduction ever
President Biden projected the federal budget deficit will decrease by more than a trillion dollars in 2022. If it does, that would set a record.
Taxes
Yes, you do have to pay taxes on cryptocurrency
If you sell or exchange cryptocurrency, you’ll have to pay capital gains taxes. If you receive crypto as payment or if you mine it, it’s taxable income.
Taxes
Yes, you have to pay taxes on the sale of NFTs
The IRS treats NFTs, short for non-fungible tokens, the same as it does for any other real-world investment.
Taxes
NFTs: Do you owe taxes if you make a profit?
The IRS treats NFTs, short for non-fungible tokens, the same as it does for any other real-world investment.
Taxes
Yes, 2021 unemployment benefits are taxable on this year’s federal returns
People who collected unemployment benefits in 2020 got a break from paying federal taxes on them, up to a certain amount. That’s not the case for benefits in 2021.
Taxes
Yes, you need to claim the child tax credit on your 2021 return, even if you got advance payments
You may have gotten monthly checks already, but you’re likely still owed more money. To get that, you need to claim your advance child tax credit payments.
Money
Yes, you’re more likely to get your refund faster if you file 2021 taxes electronically
IRS Commissioner Chuck Rettig said filing a paper 2021 tax return “means an extended refund delay.”
Taxes
Can you write off home offices, PPE due to COVID-19? It depends
If you worked from home in 2021 and set up a home office, you may not be eligible to write it off on your taxes if you receive a W-2 tax form from your employer.
Vaccines
Yes, a Rhode Island bill aims to fine, tax eligible residents if they aren’t vaccinated against COVID-19
Under a recently proposed Rhode Island Senate bill, eligible residents would have to get the COVID-19 vaccine or face a monthly fine and pay double their income tax.
Money
Yes, you still have to pay taxes even if you don’t have a bank account
During a civil trial, Blac Chyna said she didn’t pay taxes or have a bank account. The IRS says not having a bank account doesn’t preclude you from taxes.
Taxes
No, filing a tax extension doesn’t increase your risk of being audited
If you need more time to file your 2021 taxes, a tax extension won’t increase your risk of being audited, the IRS and two tax professionals told VERIFY.
Money
Yes, if the deficit shrinks by $1.3 trillion it would be the largest one-year reduction ever
President Biden projected the federal budget deficit will decrease by more than a trillion dollars in 2022. If it does, that would set a record.
Taxes
Yes, you do have to pay taxes on cryptocurrency
If you sell or exchange cryptocurrency, you’ll have to pay capital gains taxes. If you receive crypto as payment or if you mine it, it’s taxable income.
Taxes
Yes, you have to pay taxes on the sale of NFTs
The IRS treats NFTs, short for non-fungible tokens, the same as it does for any other real-world investment.
Taxes
NFTs: Do you owe taxes if you make a profit?
The IRS treats NFTs, short for non-fungible tokens, the same as it does for any other real-world investment.
Taxes
Yes, 2021 unemployment benefits are taxable on this year’s federal returns
People who collected unemployment benefits in 2020 got a break from paying federal taxes on them, up to a certain amount. That’s not the case for benefits in 2021.
Taxes
Yes, you need to claim the child tax credit on your 2021 return, even if you got advance payments
You may have gotten monthly checks already, but you’re likely still owed more money. To get that, you need to claim your advance child tax credit payments.
Money
Yes, you’re more likely to get your refund faster if you file 2021 taxes electronically
IRS Commissioner Chuck Rettig said filing a paper 2021 tax return “means an extended refund delay.”
Taxes
Can you write off home offices, PPE due to COVID-19? It depends
If you worked from home in 2021 and set up a home office, you may not be eligible to write it off on your taxes if you receive a W-2 tax form from your employer.
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