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Month: May 2022

What to Do If Your Tax Refund Is Delayed?

Amherst, NH Resident Needs Help

If you have not yet received your tax refund, you can track this on the IRS’s web site at https://www.irs.gov/refunds  You will need your social security number and the exact dollar amount of the refund that you are expecting.  It isn’t unusual for refunds to be delayed, particularly those that were filed closer to the tax deadline.  If there is a discrepancy on your tax return or missing documents, this will slow down your refund as the IRS works with the filer to rectify this.

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How is Crypto Taxed?

Litchfield, NH Resident Has Questions

It is important to keep in mind that profits from cryptocurrencies, including bitcoin and other digital coins, are taxed by the IRS.  Just like a stock investment, cryptocurrency profits are subject to capital gains.  This may be short-term capital gains if the crypto was owned for less than one year or long-term capital gains for investments exceeding one year.  Similarly, any losses can offset other gains and lower the total amount that you pay in taxes.

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