Cohen Rife & Jutzi PC

02/24/2022

https://www.forbes.com/sites/lynnmucenskikeck/2022/02/22/how-the-irs-is-looking-for-its-share-of-cryptocurrency-and-nft-growth/?sh=19e57b733d1d

While many persons trading cryptocurrency or buying a non-fungible token (“NFT”) think they are doing something new and fun, what they don’t realize is that the IRS is looking to collect their share. Persons involved in digital currency are often shocked when they learn of their tax bill.

02/18/2022

Best Indian restaurant is

Chutneys is the premire indian restaurant in Arizona.

02/18/2022

https://www.theoutbound.com/theoutbound/the-top-25-hikes-in-arizona

The Southwest has never looked so good.

02/18/2022

https://www.washingtonpost.com/politics/2022/02/11/irs-returns-backlog/

The inventory of unprocessed returns and related correspondence was provided by the IRS’s taxpayer advocate service to the tax-writing committees in Congress. The Treasury Department, the IRS’s parent agency, warned in January that it expected its response to be subpar this year.

02/18/2022

Gift tax: This year, the lifetime gift tax exemption amount increased from $11.7 million to $12.06 million. While this year's exemption amount increased as in years past, that number is set to be likely cut half in 2026. The top marginal rate remains 40 percent. For the past four years, the annual gift tax exclusion amount remained at $15,000, but it has increased this year to $16,000. Annual exclusion gifts for non-citizen spouses have increased to $164,000, up from $159,000.

02/18/2022

https://www.marketwatch.com/story/the-irs-is-tapping-a-second-surge-team-as-backlog-now-lumps-in-2022-tax-returns-11645138540

Now the IRS is calling in even more reinforcements as the pending paperwork begins including returns filed this year.

07/29/2021

https://www.bloomberg.com/news/articles/2021-07-28/senators-eye-cryptocurrency-taxes-to-fund-infrastructure-plan

The Senate’s bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems.

07/29/2021

https://www.google.com/amp/s/www.cnbc.com/amp/2021/07/28/lawmakers-vow-to-curb-abuse-of-multimillion-dollar-iras.html

Data for the 2019 tax year shows that 497 taxpayers have $25 million or more in aggregate IRA balances. Some lawmakers hope to curb use of those tax shelters.

12/16/2020

https://moneywise.com/a/the-15-worst-states-for-retirement-taxes

Seniors need to watch out for property tax, sales tax and taxes on Social Security.

10/25/2019

The rules governing health savings accounts can cause tax complications for people who delay tapping their government benefits beyond their full retirement age.

10/03/2019

Be prepared for these health insurance costs if you stop working before turning 65.

09/10/2019

Beware — the IRS is on the prowl for cryptocurrency tax scofflaws.