Tax forms

A pair of lawmakers proposed to raise the required threshold for reporting on gig payment transactions from $600 to $10,000.

The IRS issued a revised version allowing nonprofits and charitable trusts to file requests for miscellaneous determinations electronically.

The Internal Revenue Service updated its frequently asked questions about the information return for reporting transactions involving payment cards and third-party networks.

The Internal Revenue Service is cautioning taxpayers to beware of a new scam involving the withholding form.

Here are five reasons clients may need more help with household employment matters in 2023

The service unveiled a long-awaited online portal where businesses will be able to file their 1099 information returns for free.

Tax pros who have begun working on their clients' returns are encountering a slight change in wording at the top of Form 1040.

The service corrected approximately 14 million returns, generating nearly 12 million refunds.

The Internal Revenue Service and the Treasury are giving investment brokers more time to report information on transactions involving digital assets such as cryptocurrency.

The lower threshold threatened to generate millions of new forms going out to unsuspecting taxpayers and their accountants.

The Internal Revenue Service is responding to feedback on its draft form and instructions for Schedule UTP for reporting uncertain tax positions by making some changes for next tax season.

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The Internal Revenue Service is cautioning taxpayers to beware of the newly lowered threshold if they received payments amounting to as little as $600.

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Tax professionals have been clamoring for more detail and clarity regarding whether (and under what circumstances) corporations and partnerships must file Schedules K-2 and K-3, particularly where they have little or no foreign activity and shareholders or partners.

The draft instructions may clear up some confusion, adding a new domestic filing exception.

Just $600 in gross sales is going to trigger a 1099-K for gig workers and sellers on sites like eBay and Etsy.

The IRS has given cryptocurrency holders a bit more clarity about how to report digital assets on their 1040 income tax forms.

The service posted drafts of the upcoming Schedule UTP form and instructions in an effort to improve the forms' usefulness.

Advocates are pushing to restore the $20,000 threshold for reporting transactions from payment cards and third-party networks after it was lowered to just $600.