The IRS’s increased documentation requirements for Sec. 41 claims require taxpayers to specifically identify applicable business components and their costs and why their development is qualified ...
The Southern Maryland Chronicle on MSN
IRS Eases 1099-K Rules with $20K Limit
The Internal Revenue Service issued updated frequently asked questions on Form 1099-K on Oct. 23, 2025, clarifying reporting requirements for third-party payment networks under the One, Big, Beautiful ...
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 ...
According to Forbes, it is important to check all 1099 forms before filing. Most come in late January or early February but some may come throughout the year. If a 1099 is missing or has an error, you ...
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 ...
On July 4, 2025, President Trump signed into law the so-called “One Big Beautiful Bill Act.” The Act established new above-the-line tax deductions for “qualified tips” and “qualified overtime ...
In a significant policy shift, the IRS has revised Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, the cornerstone of its Voluntary Disclosure Practice (VDP), by ...
Child care is expensive — and if you’re a working parent or caregiver, you’ve probably felt the sting. But here’s the good news: if you paid for child or dependent care so you could work or look for ...
The Internal Revenue Service is warning more than 1 million taxpayers to file their 2021 tax returns by April 15 or risk losing more than $1 billion in unclaimed refunds. There is no penalty for ...
Are you eligible for a $1,400 payment? Some Americans are running out of time to claim it. The Internal Revenue Service announced in December it would be distributing about $2.4 billion − up to $1,400 ...
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