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The Federal Aviation Administration said Friday it will allow Boeing to produce more 737 Max airplanes by increasing the monthly limit that it imposed after a door plug blew off an Alaska Airlines jet that the company built.
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The deal brings the world's fastest-growing sport to Apple's platforms—some of it for free.
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Chicago-based Introl hit No. 14 on the Inc. 5000 this year, buoyed by an AI boom that some warn has started to look like a bubble.
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The Federal Aviation Administration raised a production limit that the regulator had imposed after a door panel blew off a plane during a flight last year.
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States reported that 205,000 workers filed for new unemployment benefits during the week ending Dec. 16, an increase of 2,000 from the previous week's revised level. The weekly claims are consistent with a low level of layoffs. Over the past two years, the unemployment rate has remained under 4 percent, despite high interest rates and inflation.
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The 2022 crypto price crash understandably has some investors concerned. But for those of you who haven't run for the hills, it's worth knowing that cryptocurrency currently has the attention of not only the Biden administration, and Congress, but the IRS as well. In terms of crypto news and taxes, the IRS recently proposed changes to cryptocurrency tax reporting question on the Form 1040. The agency will also receive $80 billion from the Inflation Reduction Act, some of which will be directed to digital asset enforcement—including cryptocurrency tax compliance.
Additionally, you may have heard that the IRS continues to successfully obtain court orders to require cryptocurrency brokers and exchanges to provide information to the IRS. That information concerns investors who failed to report and pay taxes on cryptocurrency transactions.
And while this IRS enforcement focus isn't new, recent crypto announcements and developments from Congress, the Biden administration, and the IRS, mean that it's important to stay up-to-date on crypto tax reporting and compliance. So, here's some information to get you started.
How Crypto is Taxed
A common question about cryptocurrency concerns how crypto is taxed. The answer is that cryptocurrency is considered property, so it's taxed by the IRS in the same way that other capital assets are taxed. As a result, when you sell or trade crypto, you can have asset losses and potential taxable gains depending on the fair market value of the virtual currency, and your basis in the crypto.
SEE MORE 9 Ways to Cut Crypto Taxes Down to the Bone
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