#irs-reporting
Irs Reporting
IRS reporting requirements for cryptocurrency and investments
1099-K Threshold Whiplash: What Gig Workers and Online Sellers Need to Know for 2026
For the 2026 tax year the Form 1099-K threshold reverted to $20,000 and more than 200 transactions, but you must still report all income whether or not a form arrives. This guide explains who gets a 1099-K, how to reconcile Box 1a from gross to taxable income, and where the numbers go on Schedule C or Schedule 1.
Form 1099-DA, Per-Wallet Cost Basis, and the Rev. Proc. 2024-28 Safe Harbor: A 2026 Crypto Tax Guide
Form 1099-DA introduces IRS broker reporting for digital asset sales beginning with 2025 transactions and adds cost-basis reporting for covered assets in 2026. Rev. Proc. 2024-28 simultaneously ends universal wallet accounting in favor of per-account allocation. This guide explains how investors and businesses reconcile 1099-DA against their own records, use the one-time safe harbor, and avoid paying capital gains tax twice.
Form 4506-T and 4506-C: IRS Tax Transcripts for Mortgage and SBA Lending
A practical breakdown of Form 4506-T, Form 4506-C, Form 8821, and the five IRS transcript types — what mortgage and SBA lenders need before first disbursement, and how borrowers can avoid identity holds, name mismatches, and no-record errors that stall closings.
Form 911: Escalating Stalled Refunds, Wrongful Levies, and Identity Theft to the Taxpayer Advocate Service
Form 911 opens the door to the Taxpayer Advocate Service, an independent IRS office that intervenes in stalled refunds, wrongful levies, and identity-theft cases under IRC Section 7811. This guide explains the four hardship categories, how to file, and what to write so a case gets expedited rather than queued.
Section 6603 Deposits: Stop IRS Interest on Disputed Tax Without Giving Up Appeal Rights
A Section 6603 deposit freezes IRS underpayment interest on contested tax while preserving your appeal, Tax Court, and withdrawal rights. This guide covers the written designation under Rev. Proc. 2005-18, when a deposit beats a payment, LIFO withdrawal mechanics, and the procedural traps that turn planned deposits into accidental payments.
Section 6603 Deposits: Stop IRS Interest Without Conceding the Audit
A Section 6603 deposit halts interest on a disputed IRS liability without paying the tax, conceding the position, or forfeiting Tax Court access. Revenue Procedure 2005-18 spells out the mechanics—a written designation that names the tax, year, amount, and basis for disputability.
The 2026 Adoption Tax Credit: Form 8839, the Refundable $5,120, and the Five-Year Carryforward
For 2026, the federal Adoption Tax Credit is worth up to $17,670 per child, with $5,120 now refundable. A field guide to Form 8839, qualified expenses, the special-needs rule, failed adoptions, the MAGI phase-out, and the five-year carryforward.
Employee Retention Credit Compliance in 2026: Audit Defense Under the OBBBA Six-Year Statute
A practical 2026 guide for businesses with ERC exposure — the closed voluntary disclosure window, the OBBBA six-year statute on Q3/Q4 2021 claims, the categorical disallowance of late filings after January 31 2024, the promoter penalties reaching back to March 12 2020, and the audit file examiners actually request.
Form 6252 Installment Sales Under Section 453: Spreading Capital Gains and Avoiding the 453A Interest Charge
A practical walk-through of reporting installment sales on Form 6252 under IRC Section 453 — computing the gross profit percentage, why depreciation recapture is taxed in year one, the 453A interest charge on notes above the $5M aggregate threshold, the two-year related-party resale rule, and when electing out beats deferring gain.
Form 8308 and Section 751 Hot Assets: Why Selling Your Partnership Interest Often Costs More Than You Think
Selling a partnership interest can convert expected capital gain into ordinary income under Section 751, raising the federal tax bill on the recharacterized slice from 23.8 percent to 37 percent. This guide explains Form 8308, hot-asset categories, the January 31 partner statement deadline, and what sellers, buyers, and partnership administrators need to do for 2025 and 2026 transfers.
Form 8865 Foreign Partnership Reporting: The Four Categories of Filers, the $10,000 Penalty, and How U.S. Persons Stay Off the IRS Radar
Form 8865 is the U.S. information return for foreign partnership interests, with $10,000 per-partnership per-year penalties for non-filing. This guide breaks down the four filer categories under Sections 6038, 6038B, and 6046A, the constructive ownership rules that catch most surprise penalties, and the schedules each category must include.
Form 8865 Foreign Partnership Reporting: The Four Categories of Filers, $10,000 Penalty Trap, and How U.S. Persons Stay Compliant in 2026
Form 8865 makes U.S. persons report controlled foreign partnerships, property contributions, and 10-percentage-point interest changes. Missing it triggers $10,000 per partnership per year, plus a 10% foreign tax credit haircut and stacking 30-day penalties up to $50,000.