The IRS updated its frequently asked questions concerning the child tax credit this week, adding six more questions to a fact sheet posted on the agency’s website. See: 50 Ways You’re Throwing Money ...

The IRS recently updated its guidance for completing Form 1099-K, used primarily by “gig” companies providing compensation using payment apps or online marketplaces and for individuals selling goods ...

The fact sheet contains frequently asked questions pertaining to Section 127 of the Tax Code, which allows taxpayers to exclude certain educational assistance benefits from their gross income if ...

The Internal Revenue Service (IRS) released an updated frequently asked questions document for taxpayers and tax professionals this week regarding Form 1099-K, which is used to report income for ...

The IRS recently released an updated set of frequently asked questions (FAQs) governing educational assistance programs under Section 127 of ...

Forbes contributors publish independent expert analyses and insights. Amber Gray-Fenner covers individual and crypto taxation and IRS news. In a statement issued late yesterday the IRS indicated that ...

The IRS provided transition relief Wednesday under which eligible passthrough entities will not have to file new Schedules K-2 and K-3 for tax year 2021. The relief is outlined in News Release IR-2022 ...

The OBBBA retroactively reinstated the reporting threshold in effect prior to the passage of the American Rescue Plan Act of 2021, so third-party settlement organizations are not required to file 1099 ...

Portland, OR, USA - Jan 5, 2022: Third-party payment apps now have to report transactions more than USD600 to the IRS. Taxpayers who engage in online sales may have dodged a reporting bullet in early ...

The Internal Revenue Service issued guidance in the form of answers to frequently asked questions about the soon-to-expire tax credits for clean energy sources such as solar and wind power, electric ...

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