Income Tax In line with the IRS’s announcement regarding tax relief for victims of Typhoon Mawar in Guam, deadlines falling on or after May 22 and before October 2023 are granted additional time ...

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 Research Tax Credit for federal purposes has been around since 1981, and the form to report qualified research expenditures has been in existence since at least 1990. Form 6765, which has changed ...

The new tax reporting rule requires platforms like PayPal, Venmo, and CashApp to issue tax form 1099-K for earnings exceeding $5,000, CNET reports. While it’s not a new rule for freelancers, it ...

The IRS extended its transition relief for the new Form 1099-K information reporting threshold, setting it at $5,000 for 2024, $2,500 in 2025 before reaching the statutory level of $600 in 2026 and ...

The IRS again delayed the effective date of the $600 threshold for Form 1099-K reporting for third-party settlement organizations (TPSOs) and will treat 2024 and 2025 as transition years, the Service ...

If you need someone to interface with the Internal Revenue Service (IRS) on your behalf, you'll need to formally authorize them. This is where Form 2848: Power of Attorney and Declaration of ...

IRS issues draft Form 7217 for comment By Jeff Stimpson October 02, 2024, 9:30 a.m. EDT 1 Min Read ...