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The IRS added a new question to the top of the 1040 tax form, aimed at identifying people who make money on cryptocurrency transactions. Cryptocurrency, or virtual currency, includes things like Bitcoin and is a digital representation of value that functions as a medium of exchange, according to the IRS.The question asks: “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?” The only options to answer are yes or no.The question is similar to one that was added to the form for 2019 tax filings. At the time the question was on a section used to report certain additional income or adjustments, called Schedule 1. However, not a lot of people file Schedule 1 forms with their return. In 2014, the IRS issued a notice that virtual currency should be treated as property for tax purposes. Tax experts say the move, putting the question on the main form, may signal that the IRS is serious about going after virtual currency investors who under-report their holdings.“In my view, the IRS is treating omitted virtual currency transactions in the same manner it pursues foreign bank accounts of U.S. taxpayers,” Lewis Taub, a certified public accountant and director of tax services at Berkowitz Pollack Brant Advisors + CPAs told Yahoo Finance. “By asking the question on the top of the first page of the return, the IRS is making it clear that any income from gains or losses from virtual currency must be reported on the return.”The question will appear at the top of the 1040 form, right below a person’s name and address.The IRS has increased their investigations into cryptocurrency investments, getting digital currency exchanges to release information about investors activity.Among recent high-profile cases was software mogul John McAfee, who was accused of tax evasion using cryptocurrency in October, according to FOX News. 1922

The IRS announced this week it has extended the deadline for those who did not file a tax return the last two years to request a ,200 stimulus check. The deadline, which was previously slated for October 15, will now be on November 21.The economic stimulus checks, which millions of Americans received during the spring and early summer, is for most American adults earning less than ,000 a year. The IRS paid the checks out to those who either file an annual tax return or receive government benefits. American adults who are not considered a dependent, such as young adults living at home, and do not file a tax return are required to submit a form to the IRS. The form is available on the IRS’ website."We took this step to provide more time for those who have not yet received a payment to register to get their money, including those in low-income and underserved communities," said IRS Commissioner Chuck Rettig. "The IRS is deeply involved in processing and programming that overlaps filing seasons. Any further extension beyond November would adversely impact our work on the 2020 and 2021 filing seasons. The Non-Filers portal has been available since the spring and has been used successfully by many millions of Americans."As a reminder, here is who is eligible for a stimulus check:,400 – Couples earning less than 0,000 a year (couples earning 0,000 - 8,000 will receive a prorated check).,200 – Individuals earning less than ,000 a year (individuals earning ,000 - ,000 will receive a prorated check).,200 – Heads of households earning less than 2,500 (heads of households earning 2,500 - 6,000 will receive a prorated check).0 - Each dependent child age 16 or under as of Dec. 31, 2019 (for qualifying individuals and couples). 1791

The Protestant preacher known as "America's pastor" will be remembered at a funeral Friday under a large white tent evoking his first "Canvas Cathedral" revival nearly 70 years ago.The private service for the Rev. Billy Graham, who was 99 when he died at home in Montreat, North Carolina, last week, is expected to be attended by about 2,300 guests, including President Donald Trump and the first lady.After the service at the Billy Graham Library in Charlotte, the globetrotting preacher and spiritual confidant to American presidents will be buried beside his wife, Ruth, at the foot of the cross-shaped brick walkway in the library's Prayer Garden.The noontime service, in many ways Graham's final crusade, will be streamed live. "It was Mr. Graham's explicit intent that his funeral service reflect and reinforce the gospel message he preached for more than 60 years," his spokesman, Mark DeMoss, said on the website of the Billy Graham Evangelistic Association. A tribute at the US Capitol 1007

The long-running tv series “COPS” is filming again, however viewers in the US may not get to see the episodes.Last week, the Spokane County Sheriff’s Office said two “COPS” film crews were riding with their deputies in September and will be with them through the first week of November.“We have a longstanding relationship with COPS and Langley productions, and we are pleased they have decided to return, highlighting the outstanding work our Deputies provide to all of you,” the statement from the sheriff’s office said.“They show the hard work and professionalism of law enforcement, despite what some anti-law enforcement activists and those in the media want you to believe,” Sheriff’s Ozzie D. Knezovich is quoted as saying in the release about “COPS”.The show was canceled on Paramount Network in early June, as demonstrations focused on police tactics and violence against Black people grew in several cities following the deaths of Breonna Taylor, Ahmaud Arbery and George Floyd, among others.“Cops’ is not on the Paramount Network and we don’t have any current or future plans for it to return,” a Paramount Network spokesperson said in a statement to Variety in June.The new episodes being filmed in Spokane are likely destined for foreign markets. A spokesperson from Langley Productions told The Hollywood Reporter that the episodes being filmed now are to fulfill commitments in international territories where “COPS” still airs.There is no update on the “COPS” website or social media channels.“COPS” began its run on the fledgling FOX network in 1989, being a huge boon for the young network. The program was unique for embedding cameras within police departments, showing the work of officers throughout the US.But FOX dropped the program amid declining ratings, and was later picked up by Spike, which was later renamed Paramount Network. 1864

The homestretch of the 2020 presidential campaign culminates on Tuesday as President Donald Trump and former Vice President Joe Biden meet for the first of three presidential debates.Tuesday’s debate will air live on this network at 9 p.m. ET from Cleveland.Here is what you need to know about Tuesday's showdown.The candidatesDemocratic Party nominee Biden and Republican nominee Trump were the only two candidates invited to Tuesday’s debate based on polling. In order to be invited, a candidate must poll at 15 percent or above in a series of national polls to qualify.An aggregate of national polls by Real Clear Politics has Biden leading the popular vote by a 50-43 margin. But as Hillary Clinton learned in 2016, winning the popular vote does not mean victory.The moderatorFox News’ Chris Wallace will moderate a presidential debate for the second straight election cycle. Wallace was widely praised for his moderation of the 2016 debate between Clinton and Trump.While Fox News is considered by many to be right-leaning, Wallace is called one of the networks more independent anchors. Before joining Fox News, he was a reporter for ABC News, and the Washington Bureau Chief of NBC News.While Wallace did not moderate a Democratic Party debate, he is quite familiar with Trump. During the summer, Wallace held wide-ranging interview with Trump, which took Trump to task for the federal government’s response to the coronavirus.While this is the first time Wallace has moderated a debate involving Biden, he has moderated a debate involving Trump four prior times.Wallace moderated three GOP debates for Fox News during the 2016 primary season. During one of the debates, Wallace chided Marco Rubio and Trump stating, “Gentlemen, you’re going to have to do better than this.”The formatThe debate will be broken into six, 15-minute segments.Those segments include:The Trump and Biden RecordThe Supreme CourtCOVID-19The EconomyRace and Violence in our CitiesThe Integrity of the ElectionWhile the exact times candidates will be allowed to speak have not been released, during the last debate Wallace moderated, candidates had two minutes to answer each question, with remaining time to go into a deeper discussion on the topicPrepping for the debateWhile Trump has kept a busy public schedule in the week leading up to the debate, Biden has cut back on appearances to focus on debate prep.Trump had wanted the first debate to be held earlier as voters in a small number of states have started casting ballots.Unrest in US citiesOne of the six topics listed is on race and violence in US cities. The topic will be discussed just days after a Kentucky grand jury announced that two officers who shot and killed Breonna Taylor in Kentucky would not be charged.The issue of race and unrest has been one the two candidates are deeply divided on. While both candidates have said they oppose defunding police departments, Trump has frequently mischaracterized Biden’s position on policing, claiming that Biden supports defunding police departments.Meanwhile, Biden has frequently accused Trump of inciting violence and that Trump’s rhetoric has increased tensions.The Supreme CourtIn 2016, it was a certainty the next president would have to fill at least one Supreme Court vacancy. As Trump is about to likely fill his third open seat on the court, what happens in 2021 and beyond is unclear.Democrats have suggested that they would push to expand the size of the Supreme Court if they control the Senate and White House. Biden has not said whether he would go allow with that plan.Assuming Trump’s third nominee is confirmed, the Supreme Court will give conservatives a distinct advantage.The oldest member of the Supreme Court, 82-year-old Stephen Breyer, is a Clinton appointee. The next oldest justice, George H.W. Bush appointee Clarence Thomas, is a whole decade younger.CoronavirusLikely no issue has shaped the 2020 election more than the coronavirus. With more than 200,000 coronavirus-related fatalities, an unemployment rate that has doubled since March, and the US deficit jumping to near-record levels, the virus has impacted everyday life for virtually all Americans.How the country responds to the virus between now and Inauguration Day could change, however. Will a vaccine be ready by then? Will Americans trust that the vaccine is safe and effective? And what if a vaccine takes longer than expected and/or is not effective as hoped? 4457

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