Are you putting off filing your tax return because you owe money but can't pay? You shouldn't. The IRS can help you if you're having trouble paying all the taxes you owe at once. But YOU must take action. Here's what you need to do: First, before the tax deadline, either file your tax return or [...]
Under the broker information reporting rules, brokers must report transactions in securities to both the IRS and the investor. These transactions must be reported on Form 1099-B. Legislation enacted in 2021 extends these broker information reporting rules to cryptocurrency exchanges, custodians, or platforms (e.g., Coinbase, Gemini, or Binance), and to digital assets such as cryptocurrency (e.g., [...]
This article was published by the IRS. The Internal Revenue Service has issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 [...]
An Individual Taxpayer Identification Number (ITIN) is for people who have a federal income tax filing or reporting requirement, but who are not eligible for a Social Security number. Taxpayers who need an ITIN can mail a completed Form W-7, along with the required identification documents and federal tax return, to the IRS. Check out the [...]
This article was published by the IRS. The Internal Revenue Service has launched a new feature that will give taxpayers digital control over who can represent them or view their tax records, a groundbreaking step in the agency's expansion of electronic options for taxpayers and tax professionals. The new feature, one of many recent enhancements to [...]
