The Internal Revenue Service reminds taxpayers to report transactions of at least $600 made through payment networks like Venmo, Paypal, and Cash App as the agency seeks to obtain data regarding part-time employment and side gigs, a move that critics have termed government overreach. In a recent explainer posted online, the IRS said that according […]
The Social Security cost-of-living adjustment (COLA) will be 8.7 percent for 2023, the highest increase in 40 years, according to a Thursday announcement from the Social Security Administration. That increase tops the 5.9 percent adjustment that was implemented in 2022, which at the time was the highest in decades, amid surging inflation. The last time the Social […]
Millions of Americans are still eligible for COVID-19 relief payments, the Government Accountability Office (GAO) said on Tuesday. According to a report from the GAO, Americans with little or no income who are not required to pay taxes have until Nov. 15 to complete a simplified tax return in order to get their stimulus checks. The report found that […]
A man mistakenly received a payment of almost $250,000 from Google—even though he hadn’t done any work for the company. Sam Curry, a staff security engineer at cryptocurrency company Yuga Labs, described the baffling payment on his verified Twitter account on Tuesday. “It’s been a little over 3 weeks since Google randomly sent me $249,999 […]
LONDON—Russia defaulted on its international bonds for the first time in more than a century, the White House said, as sweeping sanctions have effectively cut the country off from the global financial system, rendering its assets untouchable. The Kremlin, which has the money to make payments thanks to oil and gas revenues, swiftly rejected the […]
Russia’s finance chief said Moscow is planning a new system for making foreign bond payments similar to the rubles-for-gas scheme in an effort to prevent a historic sovereign default after Washington ended a key sanctions exemption that raised Russia’s chances of defaulting on its debt. Anton Siluanov, Russia’s finance minister, was cited by Vedomosti on […]
BRUSSELS—Apple faces a possible hefty fine and may have to open its mobile payment system to competitors after EU antitrust regulators charged the iPhone maker with restricting rivals’ access to its technology used for mobile wallets. This marks the second EU charge against Apple after EU regulators last year accused the company of distorting competition […]
More than 500 workers have gone on strike at a Chevron refinery in the San Francisco Bay Area after calling for a salary raise as inflation levels continue to soar across the country. Employees at the energy company also cited concerns over safety and long working hours. The strike on March 21 came after the company and […]
President Joe Biden said Thursday the United States and its international allies have decided not to cut Russia off from the SWIFT international payments system as punishment for invading Ukraine, though the measure has been left on the table as a last resort in case the situation escalates. Biden told a press briefing on Feb. […]
