Tax forms

Companies will commission a cost segregation study, but its analysis never gets implemented on the tax return.

The Internal Revenue Service has issued a second early draft version of the new Schedule 1 for next tax season’s Form 1040 to include a question up top about whether a taxpayer has sold, received, exchanged or acquired cryptocurrencies such as Bitcoin or Ethereum.

Greatland Corporation, a Michigan-based specialist in wage and income reporting solutions for W-2, 1099 and 1095 forms, has acquired New Jersey-based JAT Software Inc.

The service is looking for comments on the proposed forms within 30 days.

The Treasury Department and the Internal Revenue Service have released on Friday a redesigned Form W-4 for tax year 2020, making a number of changes to earlier draft versions of the form after hearing complaints from tax professionals.

The IRS is looking for Form 2290 from heavy-vehicle users.

The Internal Revenue Service has resurrected an information return that hasn’t been used since the early 1980s.

The Internal Revenue Service has issued a revenue procedure giving some partnerships extra time to file a Form 1065 and the accompanying Schedule K-1.

The Internal Revenue Service has posted a draft version of a new tax return for senior citizens, as well as a new draft version of the Form 1040 for 2019 that taxpayers and practitioners will be filing next year.

Substantial changes in the regulations for the new global intangible low-taxed income could mean that many more amended K-1 schedules will be necessary for tax practitioners this year.