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WASHINGTON, D.C. — To streamline the tax filing process, the Internal Revenue Service (IRS) is debunking common misconceptions surrounding Form 1099-K. This proactive approach is intended to ensure taxpayers understand …
IRS Unravels Mysteries of Form 1099-K: What Taxpayers Need to Know Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a reminder to farmers and fishers who chose not to make estimated tax payments by January that they must generally …
IRS Reminds Farmers and Fishers of March 1 Tax Filing Deadline, Offers Online Payment Solutions Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is ramping up its efforts to provide taxpayers with clearer information this filing season. The agency recently announced revisions to its frequently …
IRS Updates FAQs for Form 1099-K, Delays New $600 Reporting Threshold Read More
WASHINGTON, D.C. — In an effort to maintain clarity and accuracy in the rapidly evolving field of digital currencies, the Internal Revenue Service (IRS) has issued an important call to …
IRS Urges Taxpayers to Report Cryptocurrency Earnings for the 2023 Tax Season Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has kicked off the tax season by launching its Free File Guided Tax Software service. This service, available on IRS.gov, provides cost-free …
The IRS Launched Free Tax Filing Tool: An Invaluable Opportunity for Millions of Taxpayers Read More The Internal Revenue Service (IRS) is making significant strides to bring high-income individuals, complicated partnerships, and colossal corporations within the ambit of thorough scrutiny. Bolstered by the support of the …
IRS Intensifies Focus to Ensure Tax Compliance from High-Income Entities Read More
WASHINGTON, D.C. — The National Taxpayer Advocate, Erin M. Collins, has recently delivered her 2023 Annual Report to Congress, shedding light on the complexities and challenges taxpayers face due to …
National Taxpayer Advocate’s 2023 Report Rings Alarm on IRS Paper Processing Delays Read More
As we begin the new year, you may be receiving various tax statements from your financial services provider — so it’s a good time to consider how your investments are …
How Are Your Investments Taxed? Read More
The Internal Revenue Service (IRS) is reminding eligible individuals who have not yet claimed their Recovery Rebate Credit to file a tax return before it’s too late. The deadlines to …
IRS Urges Eligible Taxpayers to Claim Recovery Rebate Credit Before Deadlines Read More The Internal Revenue Service (IRS) has recently issued a reminder to Individual Retirement Arrangement (IRA) owners aged 70½ and over. These individuals are allowed to transfer up to $100,000 annually …
IRS Reminder: IRA Owners Over 70½ Can Transfer up to $100,000 to Charity Tax-Free Read More