The Internal Revenue Service continues to seek feedback regarding the draft instructions for Form 6765 and is extending the dates for reporting requirements related to the Credit for Increasing ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

Don't wait until the deadline! File HVUT forms with EZ2290, which serves everyone from individual truck drivers to large fleet owners with one comprehensive platform. EZ2290, based in Fayetteville, ...

"The IRS is aware and is working on the issue," said Barbara League, a partner at Orrick. "At this time, they have no estimated timeline during which it will be resolved." Attorneys and tax-exempt ...

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA ...

Ever looked at your paycheck and wondered why your take-home pay seems off? It might have something to do with your W-4 form. If you’re starting a new job, picking up a side hustle or going through a ...

How does the IRS define a crypto broker? The definition of the term “broker” includes individuals or entities that regularly provide services to carry out digital asset transfers. This definition ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, ...

The Research Tax Credit for federal purposes has been around since 1981, and the form to report qualified research expenditures has been in existence since at least 1990. Form 6765, which has changed ...

For the first time, the IRS has issued an official form to be used for making an election under Section 83(b) of the Internal Revenue Code. Until the IRS issued Form 15620 in late 2024, taxpayers used ...