The Internal Revenue Service extended its transition relief Tuesday for the new Form 1099-K information reporting threshold, setting it at $5,000 for 2024 and $2,500 in 2025 before reaching the ...

The IRS Form 1040 is the primary document used by taxpayers in the United States to file their annual income tax returns. It serves as a comprehensive summary of your financial year, detailing all ...

The IRS is giving a break to People who received more than $600 via Venmo, PayPal or other payment apps this year. The agency on Tuesday said it is again delaying the implementation of a 2021 law that ...

Forbes contributors publish independent expert analyses and insights. Shehan Chandrasekera is the leading expert on cryptocurrency taxes. On April 18, the Internal Revenue Service released the draft ...

With the tax season deadline looming on April 15, it's essential to be aware of the latest updates to the IRS Form 1040 and its accompanying schedules. These changes can significantly impact how you ...

Forbes contributors publish independent expert analyses and insights. Amber Gray-Fenner covers individual and crypto taxation and IRS news. Businesses who accept cryptocurrency as payment were ...

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 ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application ...

The Internal Revenue Service (IRS) is introducing a new form, Schedule 1-A, to streamline the process of claiming deductions for tips, overtime, auto loan interest, and senior benefits. This ...

The U.S. Internal Revenue Service (IRS) has previewed what crypto investors' future tax form might look like when it finishes its much-debated rule on how cryptocurrency transactions should be ...