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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 products and services mentioned below were selected independent of sales and advertising. However, Don't Waste Your Money may receive a small commission from the purchase of any products or services through an affiliate link to the retailer's website.Now that the holidays are over, you might find yourself feeling as though there’s not much to look forward to lately. Perhaps it’s time to plan a little getaway. If you travel to your destination via Amtrak and bring a friend or loved one, you might nab an excellent deal. 535

The number of people casting an early ballot in the presidential election now surpasses those who voted early during all of 2016. That's more than 58.6 million people who have cast their ballot with eight days to go before Election Day. The total of early votes cast either in-person or by mail in 2016 was 58 million according to the Associated Press. According to the U.S. Election Project, a data collection project run by a professor at the University of Florida, the total number of votes cast so far for the 2020 election is roughly 43 percent of the total number of votes cast in the 2016 election including early votes and on Election Day. Democrats have been dominating early voting, but Republicans are slowly narrowing the gap. The opening of early voting locations in Florida, Texas and elsewhere has piled millions of new votes on top of the mail ballots arriving at election offices as voters try to avoid crowded places on November 3 during the coronavirus pandemic. President Donald Trump has convinced many of his supporters they should not vote with mail ballots. Over the weekend, the president voted early in-person in Florida. One out of every 4 of the voters is either new or infrequent, a sign of a potential record-setting turnout. 1264

The latest fight between FedEx and UPS isn't about shipping. It's about ties to the National Rifle Association.UPS said in a statement Wednesday that it is not a sponsor of the NRA and that it does not offer a special discount for NRA members.That comes after its competitor, FedEx — itself fielding criticism from activists for standing by its NRA shipping discount — accused UPS of having a relationship with America's top gun lobby."For shipping from its online store, the NRA uses UPS and not FedEx," FedEx said on Tuesday.  551

The Los Angeles Police Department says an investigation is underway after a man attacked and robbed three transgender women in Hollywood on Monday.KTLA-TV in Los Angeles said police are investigating the incident as a hate crime.Video of a portion of the assault was widely shared on social media. It shows the suspect assaulting the women and also demanding clothing and jewelry from them.According to the LAPD, the man went up to one of the victims with a metal bar and told her to give him her shoes and bracelet. He then grabbed her hand and walked with her for a short distance before she was able to escape.Later, police say the suspect attacked one of the woman's friends with a bottle, knocking her to the ground.The suspect also allegedly made derogatory remarks about the victims' sexual identity during the attack.LAPD shared a photo of the suspect in the hopes of tracking him down. 902

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