The Internal Revenue Service (IRS) has recently released a new form, 15620, which will significantly impact the way taxpayers ...

Calculating the home office deduction using the standard method involves completing IRS Form 8829 to calculate the amount of ...

When you perform a 1035 exchange, you must report the transaction using IRS Form 1099-R. There are several scenarios where a 1035 exchange might be beneficial. For instance, suppose your current life ...

On November 7, 2024, the IRS introduced Form 15620, a new standardized form for taxpayers opting to make a Section 83(b) ...

Her expertise is in personal finance and investing, and real estate. Form 6251: Alternative Minimum Tax-Individuals is an Internal Revenue Service (IRS) tax form used to determine the amount of ...

Download and save the PDF to your computer Open the downloaded PDF in Acrobat Reader 10 or later A form a taxpayer can complete and submit to request relief under the taxpayer relief provisions.

Good news from thje IRS for taxpayers who have late filings reporting foreign gifts or bequests on ... [+] Form 3520. No more automatic penalty. The IRS Commissioner Danny Werfel announced some ...

Payors must file Form 1099-INT and send a copy to the recipient by January 31 each year. Interest income must be documented on Schedule B of IRS Form 1040. Types of Interest Income Interest is a ...

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at least with respect to IRS Form 3520 and 3520-A penalties. In her NTA Blog, Ms. Collins announced that the IRS will no longer make automatic penalty assessments for late-filed IRS Forms 3520 ...

So, the IRS initially waived penalties for failing to take RMDs for certain IRAs inherited in 2020 and 2021. Later, the agency waived missed RMD penalties for IRAs inherited in 2022. Profit and ...

The IRS on Tuesday announced its new inflation-adjusted tax brackets for 2025, with the annual income thresholds rising by about 2.8% from 2024 — the smallest jump in several years. The IRS each ...