The Internal Revenue Service (IRS) issued an alert to taxpayers on Tuesday,reminding them that they must report all digital asset-related income and answer a new digital asset question on their 2022 federal income tax return or face consequences such as delayed refunds or even penalties.
The IRS said in a Jan. 24 release that a key change on 1040 forms this year is that the agency has replaced the term “virtual currency” with “digital assets,” in addition to some other modifications to the wording.
The “Yes” or “No” question, which was expanded and revised this year to update terminology, reads as follows:
“At any time during 2022, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, gift or otherwise dispose of a digital asset (or a financial interest in a digital asset)?”
“All taxpayers must answer the question regardless of whether they engaged in any transactions involving digital assets,” the agency cautioned.
It is a legal requirement to accurately report all income, including income from digital assets, on federal income tax returns. Failure to do so could result in non-compliance with tax laws and possible penalties.
The IRS has provided a detailed explanation of what constitutes a digital asset, which includes such things as stablecoins, non-fungible tokens (NFTs), and cryptocurrencies.
Joe Biden has made it a hallmark of his presidency to nominate more women and “people of color” to the the federal judiciary than any other president. Sometimes that means not nominating the most informed people for the bench, or those who struggle to answer the most basic questions of constitutional scholarship–or even humanity–as long as the nominee checks certain boxes on the Biden qualification list even if their ignorance leaves senators scratching their heads.
This is a troubling story regarding an entire police department bullying a young policeman to the point of quitting for expressing his personal religious convictions. The Daily Signal on Wednesday shared the story of Jacob Kersey, a 19-year-old former police officer in Georgia who resigned earlier this month after posting a 20- word message on Facebook expressing his faith-based opposition to gay marriage.
Following a complaint submitted by the watchdog group Do No Harm, the Department of Education recently launched an investigation into a prominent Chicago medical school’s internship program that requires applicants to submit a photograph of themselves.
A Republican lawmaker proposed a bill this week that, if passed, would require Congress members and their staff to receive health care from the Department of Veterans Affairs. The Lead by Example Act aims to force lawmakers to address and rectify the VA's long-standing issues.
In the 2022 to 2023 school year, the State University System of Florida spent millions of taxpayer dollars on critical race theory and diversity, equity, and inclusion programs, according to a report obtained by the University of Florida's student newspaper, Independent Florida Alligator.
Bill Gates' Breakthrough Energy Ventures was announced as the lead investor in a seeding round for company Rumin8, which is targeting methane emissions from livestock in an effort to stop climate change.
Microsoft has announced a multibillion-dollar investment into OpenAI, the company behind the popular ChatGPT application that allows users to ask the artificial intelligence complex questions or have it write content based on keywords and ideas.
Homeowners in Australia are being encouraged by activists, celebrities, and a senator from the Australian Greens party to pay a weekly rent to native groups for living on the land, according to the Daily Mail.
One of the strangest parts of the COVID-19 pandemic has been all of the public health “experts” who openly lied to the American people while expecting to be lauded as heroes in response. Certainly, most have witnessed Dr. Anthony Fauci’s grotesque level of arrogance over the years, with numerous examples of the good doctor admitting to lying in order to get the outcome he desired from the public. For his efforts, he’s got magazine covers and million-dollar awards.
But we shouldn’t forget about Dr. Deborah Birx, the other half of Donald Trump’s initial COVID-19 advisory team. Though she has rarely drawn the same ire as Fauci, there’s little reason to believe she wasn’t just as duplicitous. As RedState reported recently, Birx is busy promoting her new book, and it contains several brazen admissions of dishonesty, including misleading the Trump administration by disobeying orders and altering reports.
The pigheaded stupidity based on unwarranted hubris I can understand, perhaps even sympathizes with. However, here Birx descends into what I think is criminality. Birx dishonestly and illegally changed the guidance and instructions issued by people senior to her, in particular those of President Trump. If she didn’t support what she was being told to do, she had an obligation to challenge those instructions openly and transparently and then do what she was told to do. If she didn’t like those orders, she was obligated to resign. Every person who died alone in a hospital room, every business driven into bankruptcy, and every child who lost a year of education due to Birx’s actions should be a count on a felony indictment.
On January 10 of this year, Biden met with Trudeau and the president of Mexico at the 10th North American “Leaders” Summit. While there, Biden signed the Declaration of North America. Here is what was inside it.
As of yesterday, a food additive made out of powdered crickets began appearing in foods from pizza, to pasta to cereals across the European Union.
Defatted house crickets are on the menu for Europeans across the continent, without the vast majority of them knowing it is now in their food.
“This comes thanks to a European Commission ruling passed earlier this month,” reports RT.
“As per the decision, which cited the scientific opinion of the European Food Safety Authority, the additive is safe to use in a whole range of products, including but not limited to cereal bars, biscuits, pizza, pasta-based products, and whey powder.”
But don’t worry, because the crickets first have to be checked to make sure they “discard their bowel content” before being frozen.
Critics suggested that once bugs become widely accepted as a food additive, their consumption will become normalized across the board.