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Charlotte's Leading Local News: Weather, Traffic, Sports and more | Charlotte, North Carolina | WCNC.com
Immigration
Yes, some undocumented workers pay taxes
Taxes
Some undocumented immigrant workers pay income taxes
Estimates show undocumented workers contribute billions to Social Security through payroll tax deductions, along with paying other federal and state income taxes.
Money
No action required to receive money from TurboTax settlement
Eligible customers will automatically receive notices and checks in the mail.
Electric Vehicles
Not all electric vehicles are eligible for $7,500 Inflation Reduction Act tax credit
The Inflation Reduction Act includes tax credits for electric vehicles, but there are restrictions based on the price of the car and where it’s made.
Taxes
No, filing a tax extension doesn’t increase your risk of being audited
If you need more time to file your 2022 taxes, a tax extension won’t increase your risk of being audited, the IRS and two tax professionals told VERIFY.
Taxes
VERIFYING what happens if you don’t file or pay your taxes on time
The IRS penalizes taxpayers for both filing late and paying late. We VERIFY how you can avoid or reduce late penalties and interest.
Taxes
Social Security benefits are taxable for some people, depending on their income
Up to 85% of your Social Security benefits are counted as taxable income if you meet certain requirements.
Money
No, taxpayer money is not being used to cover deposits at SVB
Silicon Valley Bank failed on March 10. The U.S. government announced all of the bank’s depositors would be made whole, and no taxpayers would have to foot the bill.
Pop Culture
Yes, the $126K Oscar gift bags are taxable
Oscar nominees who accept gift bags have to claim them on their federal income taxes because the IRS treats these swag bags as income.
Taxes
No, the IRS is not changing tip reporting requirements to crack down on waiters
Headlines falsely claim the Biden administration is sending the IRS after service workers. Here’s what’s actually happening.
Taxes
No, the IRS is not changing tip reporting requirements to crack down on waiters
Headlines falsely claim the Biden administration is sending the IRS after service workers. Here’s what’s actually happening.
Taxes
Yes, the IRS requires people to report income from stolen property and illegal activities
If a person steals property or makes money from illegal activities, the IRS requires taxpayers to report that on their income tax return.
Taxes
Some undocumented immigrant workers pay income taxes
Estimates show undocumented workers contribute billions to Social Security through payroll tax deductions, along with paying other federal and state income taxes.
Money
No action required to receive money from TurboTax settlement
Eligible customers will automatically receive notices and checks in the mail.
Electric Vehicles
Not all electric vehicles are eligible for $7,500 Inflation Reduction Act tax credit
The Inflation Reduction Act includes tax credits for electric vehicles, but there are restrictions based on the price of the car and where it’s made.
Taxes
No, filing a tax extension doesn’t increase your risk of being audited
If you need more time to file your 2022 taxes, a tax extension won’t increase your risk of being audited, the IRS and two tax professionals told VERIFY.
Taxes
VERIFYING what happens if you don’t file or pay your taxes on time
The IRS penalizes taxpayers for both filing late and paying late. We VERIFY how you can avoid or reduce late penalties and interest.
Taxes
Social Security benefits are taxable for some people, depending on their income
Up to 85% of your Social Security benefits are counted as taxable income if you meet certain requirements.
Money
No, taxpayer money is not being used to cover deposits at SVB
Silicon Valley Bank failed on March 10. The U.S. government announced all of the bank’s depositors would be made whole, and no taxpayers would have to foot the bill.
Pop Culture
Yes, the $126K Oscar gift bags are taxable
Oscar nominees who accept gift bags have to claim them on their federal income taxes because the IRS treats these swag bags as income.
Taxes
No, the IRS is not changing tip reporting requirements to crack down on waiters
Headlines falsely claim the Biden administration is sending the IRS after service workers. Here’s what’s actually happening.
Taxes
No, the IRS is not changing tip reporting requirements to crack down on waiters
Headlines falsely claim the Biden administration is sending the IRS after service workers. Here’s what’s actually happening.
Taxes
Yes, the IRS requires people to report income from stolen property and illegal activities
If a person steals property or makes money from illegal activities, the IRS requires taxpayers to report that on their income tax return.
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