If you have a mortgage, you'll probably receive an IRS Form 1098 in the mail. Your mortgage lender is required to use this form if you paid more than $600 in mortgage interest last year.

The Internal Revenue Service (IRS) announced plans to issue automatic payments to eligible taxpayers who didn't claim the Recovery Rebate Credit on their 2021 tax returns. IRS officials announced ...

Below is an example of the application of the wash sale rule provided by the IRS: “The taxpayer buys 100 shares of X stock for $1,000. The taxpayer sells these shares for $750 and within 30 days ...

This makes it difficult to say for certain whether the flat tax drove up tax revenue or fuelled growth. For example, after Russia replaced its three-bracket system with a flat rate of 13pc in 2001 ...

IRS Form 8949 is crucial in reconciling the information reported on Forms 1099-B or 1099-S with the amounts you report on your return. These subtotals from Form 8949 are then transferred to ...

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It is mandatory for Indian residents to disclose their foreign assets and income in their Income Tax Return (ITR). Specifically, Schedule FA (Foreign Assets) in the ITR form is meant for reporting ...

Some examples of these credits are the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). The form also reports any scholarships and grants received through the school ...

WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes since the nation’s tax collector received ...