Tax forms

How long should tax professionals hold onto the e-file signature authorizations of their clients? It depends on where they and their clients reside.

The Internal Revenue Service posted a set of questions and answers Monday to help companies claim net operating losses and tax credits for prior years so they can get faster tax refunds in the midst of the novel coronavirus pandemic.

The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions.

The Internal Revenue Service is now accepting email and digital signatures on tax documents to make it easier for tax professionals and taxpayers to communicate with the agency during the novel coronavirus pandemic.

The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15 because of the novel coronavirus pandemic.

The Internal Revenue Service is giving foreign banks and financial institutions more time to file information about U.S. taxpayers with overseas bank accounts because of the coronavirus pandemic.

One thing they all agree on: It hasn’t cut their workload.

As you’re gathering documents this tax season and preparing personal tax returns, you may come across clients who have employed domestic help in the past year.

Here are some of the significant disclosure items that are either already required, or will be required, for next filing season.

The Internal Revenue Service announced that it is going to let charities and nonprofits electronically apply for tax-exempt status with a newly revised Form 1023, starting later this month.

When your client employs someone to work in their home like a nanny, housekeeper or senior caregiver, they may owe household employment taxes or “nanny taxes.” A lack of preparation, knowledge and/or communication can cause unneeded stress during busy season.

The Internal Revenue Service began accepting tax returns on Monday for tax season, while the Treasury Inspector General for Tax Administration highlighted the results of last year’s tax season.

The Internal Revenue Service did a good job last tax season dealing with the many changes in the tax law, despite the 35-day government shutdown, but it still needs to improve its dealings with taxpayers who have limited proficiency with the English language, according to a new report.

The Internal Revenue Service unveiled an enhanced Tax Withholding Estimator on its website Tuesday, designed to help workers fill out the new W-4 withholding form and hopefully avoid the problems seen last year when many taxpayers found themselves owing more taxes or receiving less of a tax refund than they expected.

The brand-new withholding form for 2020 will present taxpayers with challenges, and tax pros with opportunities, says ADP's Pete Isberg.

For tax year 2018 filings, the IRS made a drastic change to the Form 1065, U.S. Return of Partnership Income, that went unnoticed by most practitioners.

New guidance, rules and enforcement efforts from the IRS aim to improve cryptocurrency reporting.

The tax break included in the Tax Cuts and Jobs Act that encourages real estate investors to develop projects in economically distressed communities in exchange for deferring capital gains taxes for years has come under fire for not living up to its promise.

Here’s some advice on how to draft a winning OIC and bring higher acceptance rates to your practice.

The Internal Revenue Service and the Treasury Department released a draft version of a proposed tax form to collect information about qualified opportunity zones.