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 [...]
So you've filed your tax return and now you're wondering, "When will I get my refund?" If you e-filed your return, you can go to IRS.gov/refund after 24 hours to check on its status using the "Where's My Refund?" tool. You can also use the IRS2Go mobile app. It usually takes 21 days to get your [...]
