Once filed, Form 7004 is automatically approved unless the IRS contacts the filer to deny the extension. However, businesses should not assume that approval means they do not need to pay estimated ...

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 IRS’ new U.S. crypto tax regime will begin to go into effect for 2025 taxes, though some controversial aspects remain to be worked out. By Cheyenne Ligon UpdatedAug 9, 2024, 6:20 p.m ...

The Chamber of Digital Commerce has provided feedback on the IRS’s proposed Form 1099-DA, which aims to simplify crypto reporting, protect taxpayer privacy and ensure accurate tax processing.

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 ...

Over the past few years, there have been several private letter rulings of taxpayers essentially begging the IRS to allow them to file a late (or extremely late) IRS Form 706 to elect portability ...

The IRS has released a draft of Form 1099-DA. The form is the next step in efforts to bolster crypto tax reporting and follows proposed regulations published last year.

The U.S. Internal Revenue Services (IRS) has previewed what crypto investors' future tax form might look like when it finishes its much-debated rule on how cryptocurrency transactions should be ...

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 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 ...