Jordan Finneseth Friday November 04, 2022 11:46 Kitco News (Kitco News) - The United States Internal Revenue Service (IRS) criminal investigation division is gearing up to crack down on cryptocurrency tax evaders in the upcoming tax season, according to a recent report from Bloomberg Tax.  IRS Criminal Investigation division chief Jim Lee recently stated that the unit is in the process of building “hundreds” of crypto cases, many of which will soon be made public.  Previously, the agency focused its investigations on things like money laundering, but tax cases have seen a sizeable jump and now make up about half of all investigations. “In the last three years I’ve really seen a shift” in digital asset investigations, Lee said. The main areas of focus in these cases include things like “off-ramping” transactions, where digital assets…

Yes, that letter from the IRS is real. You could be owed $1,400.Nine million households could still be due significant stimulus money and for expanded child tax credit and earned-income tax credit payments Advice by Michelle Singletary Columnist With rent, food prices and utility bills up, many families could use some extra cash. Inflation is stressing people’s budgets big time. If you’re struggling and didn’t file a tax return this year, check your mail. Last week, the IRS started sending letters to the 9 million households who may still be eligible for several lucrative tax benefits, including the third round of stimulus payments, worth as much as$1,400 for an individual and $2,800 for couples. If you didn’t get the full amount of the pandemic-related Economic Impact Payment under the $1.9 trillion American Rescue Plan, you may be…

August 14, 20225:00 AM ET The Internal Revenue Service building is seen in Washington, D.C., on April 5. The IRS got $80 billion in new funding as part of the climate and health care bill passed by Congress on Friday. Most of that money will be used to target wealthier tax evaders. Stefani Reynolds/AFP via Getty Images The IRS is about to get a big infusion of cash. As part of the massive climate and health care bill passed by the House on Friday, the tax collection agency is set to receive $80 billion over the next decade. Some of that money will go to update decades-old computer systems at the Internal Revenue Service (IRS). And some is for improving customer service, including a taxpayer phone line where nine out…