The IRS has issued a private letter ruling on section 1362 stating that the termination of taxpayer’s S corporation election was inadvertent. Taxpayer is granted permission to make an election ...

The Internal Revenue Service extended its transition relief Tuesday for the new Form 1099-K information reporting threshold, setting it at $5,000 for 2024 and $2,500 in 2025 before reaching the ...

The Internal Revenue Service released a revised draft version of Form 6765, the Credit for Increasing Research Activities, on Friday after hearing comments about an earlier version of the form, only ...

Some tax professionals have been advising their clients that filing the IRS Form 706 Estate (and Generation-Skipping Transfer) Tax Return is not necessary for a surviving spouse. The reality is ...

Here’s a way for saving, potentially, thousands in taxes on IRAs, including on those that you inherit: To get started, learn all about the IRS Form 8606. This article lays out the purpose of the ...

The IRS has released a draft of Form 1099-DA, Digital Asset Proceeds From Broker Transaction. The form is the next step in the agency’s efforts to bolster crypto tax reporting and follows ...

The Internal Revenue Service previewed a draft version of the Form 1099-DA on Friday for crypto brokers reporting on the proceeds of digital asset transactions to their customers. The form is the ...

In March 2024, the Internal Revenue Service (IRS) unveiled a revised version of Form W-9[1], Request for Taxpayer Identification Number and Certification, marking a significant update since its ...

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them. In ...

The Internal Revenue Service has updated its whistleblower award form for tipping off the IRS about tax violations and applying for a monetary reward for the information. The newly revised Form 211 is ...

TaxBandits seamlessly integrates Schedule Q into the 1042 filing process to ensure compliance with IRS requirements for these entities. E-Sign Using Form 8453-WH / Form 8879-WH: Embracing modern ...