IRS

WhatsApp CEO Jan Koum sold $300 million worth of Facebook stock to pay of taxes

WhatsApp cofounder Jan Kuom sold his Facebook stock amounting to $300 million to pay off taxes he got after he sold his company.

Estate and Gift Tax Limits for 2016 Now $5.45 Million per Individual, Says IRS

The Internal Revenue Service issued Wednesday an adjustment to the estate and gift tax exemption for 2016, which is now $5.45 million per individual from last year’s $5.43 million.

Yahoo to spin off Alibaba stake even without tax-free guarantee

Yahoo is pushing ahead with its plan to spin off its stake in Alibaba despite lacking a guarantee from the IRS that it would be tax-free. The Web search company has been facing mounting pressure to spin off its Alibaba stake, whose value has almost halved this year.

Understanding What IRS Doesn't Say on Section 1038 - Exclude Gain Sale of Home and Recognize Gain on Repossession

Understanding what the IRS Code says is not enough; it is also important to understand what it doesn’t say, as what recently happened with the DeBough case.

IRS Rejects Yahoo's Tax-Free Alibaba Spin-off Request, Sending Stocks Down 4%

IRS rejects Yahoo’s plan for a tax-free Alibaba spin-off, which Yahoo hopes would have been a move to give back money to shareholders. Yahoo shares dropped 4% after the news.

Offshore tax evasion hunt continues as more Swiss banks enter prosecution agreements

Secret accounts are being exposed as the IRS gathers more data from 40,000 sources to hunt down and prosecute tax evaders.

What to do with excess contribution in your retirement account?

There are times employees are not aware they have paid too much for their contribution and do not know what to do. The Internal Revenue Service is ready to help.

Internal Revenue Service Website Hacked, 100,000 "Get Transcript" Information Stolen

The Internal Revenue Service's website was hacked and 100,000 information of taxpayers has been stolen. The IRS announced this on their news website and included in the stolen information are tax returns and other tax-related information.

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Latest Stories

Goldman Sachs Targets Private Equity After Credit Suisse Shakeup

In an attempt to fill the hole left by unrest at regional banks and the sale of Credit Suisse, American investment bank Goldman Sachs is pushing its way into the lending market for asset managers and private equity.

Tight Grad Market? Here's How to Get Hired (On a Budget!)

A survey from the National Association of Colleges and Employers states that employers intend to recruit 5.8% fewer recent college graduates from this year's class than they did from the class of 2023.

Build Lasting Wealth with These Expert-Backed Passive Income Idea

There are still some proven passive income techniques available that yield positive results.

Dow Unexpectedly Soars to 40,000, Marking the Highest for Wall Street

The Dow just reached 40,000 for the first time, marking the latest high point in an unexpectedly successful year for Wall Street.

Sustainable Investing Made Easy: Low-Cost ESG Fund Options for May 2024

Regular investors continue to desire ESG funds, despite some opponents labeling them as "woke" investing. These funds consider a portfolio's firms' financial fundamentals in addition to their environmental, social, and governance considerations.

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Walmart Stock Up by 7%, Forecast Hints at Continued Buying Power

In accordance with prior comments made by one of its major suppliers and a competitor retailer, Walmart's optimistic outlook for the retail industry on Thursday indicated a solid consumer base in the United States.

Brothers Arrested After Planning to Steal $25M in Cryptocurrencies from Ethereum Blockchain

According to a recently released indictment, two brothers from New York and Boston were placed under federal arrest on Tuesday.

Don’t Sweat the Bills: Resources to Help You Pay for Utilities

The most recent data from the Consumer Price Index shows that, from March 2023 to March 2024, the index for electricity increased by 5%, which is more than economists would want to see. (Electricity rates increased by 0.9% from February to March 2024.)

Social Security 2025: Cost-of-Living-Adjustment Increased to 3.2%, But Will It Keep Up?

After the government announced that April inflation was in line with experts' predictions, the most recent estimate of Social Security's cost-of-living adjustment 2025 increased to 3.2%, according to new figures released on Wednesday.

Real Estate Not Stocks Give the Greatest Long-Term Investment, Survey Shows

According to a recent Gallup poll, even though the majority of Americans have money stashed away in the stock market, they don't think it makes the greatest long-term investment. What then is it?

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