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Taxpayers can file 2023 tax returns from January 29 to April 15

The 2024 tax season is set to kick off. The IRS announced that it would begin accepting federal income tax returns for the fiscal year...
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File tax electronically by April 15 and get a refund by April 26

The Internal Revenue Service (IRS) has announced that this year's e-file refunds will be directly deposited into taxpayers' bank accounts. These deposits are expected...
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Korea Times sued by the U.S. government for $8 million back taxes

Korea Times Los Angeles has been sued by the U.S. government for owing nearly $8 million in federal taxes. The U.S. Attorney's Tax Division filed...
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Los Angeles police announces intensive control and regulation over Koreatown karaoke bars

Police have announced an intensive control on illegal karaoke operations, violations of business hours, use of credit card reader in other people's names, and...
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Residents of Southern California affected by the storm are offered tax report extension to May 15

California storm victims now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal...
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“IRS, Please Return My Withheld Assets”

A Korean-American man in Maryland has a considerable amount of personal money withheld by the IRS, and he is battling to retrieve his assets...
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“Virtual Currency Must Be Reported”

“Virtual currency is considered as an intangible property. Even permanent residents who lived eight of the last 15 years are subject to paying exit...

IRS to Accept Tax Returns without Obamacare Disclosures

The International Revenue Service (IRS) said Wednesday that it will no longer withhold tax returns that ignore weather the taxpayer complied with the government...
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Debt Cancellation Means Higher Income Tax

An increasing number of Korean-Americans, who have been approved for 1099-C (commonly known as cancellation of debt), remain oblivious to the consequences of such...
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