Tax forms

The lower 1099-K threshold will produce millions more forms to be sent to taxpayers, and may prompt many to abandon online marketplaces and gig economy jobs.

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

Thanks to the lower threshold, the service expects to receive about 44 million 1099-Ks in 2024, up from about 14 million.

The service's decision to destroy around 30 million unprocessed paper information returns to reduce its backlog during the pandemic probably had little effect on taxpayers, according to a new report.

The IRS has recently unveiled proposed regulations that shine a light on the murky world of digital asset broker definitions, the intricacies of the new Form 1099-DA, and its implementation timeline.

The revised Form 6765 could help both the IRS and taxpayers avoid lengthy audits involving faulty claims.

The Internal Revenue Service released a sneak peak of some of the changes it's hoping to make to the form for claiming research credits.

The service mistakenly sent out late notices to retirement plan sponsors due to a programming glitch.

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

The institute sent comment letters requesting changes in two forms used to report on foreign trusts, and guidance on energy credits and advanced manufacturing investment credits.