China banned trading Cryptocurrency in 2019. Earlier this year, China told banks and payment platforms to stop facilitating transactions and issued bans on crypto mining. Now, China has announced that ALL cryptocurrency transactions are illegal. The Chinese announcement caused an immediate decline in the market. The market has since made a modest rebound. What the long term effects the China ban will have remains to be seen..

The plan to allow IRS Spying on Americans’ bank accounts has hit roadblocks. Congressional committee has balked, 40 business associations have protested, Republicans across the board have objected, and the American people have said no. But, rather than abandon this invasion of taxpayers privacy, Congress has made small changes and forged ahead. Congress should concentrate on finding ways for the IRS to answer taxpayer phone calls rather than going forward with more audits.

If you are a “Gig” worker, you know who you are. For others, a Gig worker is a person who works temporary jobs typically in the service sector as an independent contractor or freelancer. The IRS has found new ways to uncover income to tax. Attorney Steven A. Leahy explains what to expect and what you can do about it. The IRS has also revealed the three private collection agencies that are tasked with collecting IRS Debts.

The IRS has a form for EVERYTHING! 1099 Forms are “Information Returns” and there are many different versions. 1099s are required to report any payments from sources other than employment. People receive 1099 Forms from many different reasons due to the many different types of income there are. Attorney Steven A. Leahy explains what 1099s are and the many different versions.