#irs-reporting
Irs Reporting
IRS reporting requirements for cryptocurrency and investments
The 90-Day Letter: How Small Businesses Can Fight an IRS Notice of Deficiency in Tax Court
A statutory notice of deficiency gives a small business owner exactly 90 days to petition the U.S. Tax Court — the only path to challenge an IRS adjustment without paying first. This guide explains CP3219A, the Section 6213 deadline, the $50,000 small tax case election, and the records that decide outcomes.
AOTC vs Lifetime Learning Credit in 2026: How Parents and Students Pick the Right $2,500 or $2,000 Education Credit Without Double Dipping
The AOTC is worth up to $2,500 per student with $1,000 refundable; the Lifetime Learning Credit caps at $2,000 per return. A 2026 walkthrough of Form 8863 and Form 1098-T covering when each credit wins, the Pell Grant election that unlocks the refundable AOTC, how to coordinate a 529 plan, and the four mistakes that can trigger a 2-to-10-year IRS ban.
The BBA Partnership Audit Playbook: Partnership Representatives, Push-Out Elections, and the Imputed Underpayment Trap You Did Not See Coming
Under the Bipartisan Budget Act centralized audit regime, the IRS assesses partnership tax adjustments at the entity level at the highest individual rate. This guide explains when to elect out under Section 6221(b), how the partnership representative can modify or push out the imputed underpayment under Section 6226, and how to file an administrative adjustment request on Form 8082.
FIRPTA Withholding: The Buyer's 2026 Guide to Section 1445 and Form 8288
FIRPTA requires US real estate buyers to withhold 15 percent of the gross sale price from foreign sellers and remit it on Form 8288 within 20 days of closing. This guide explains Section 1445, the $300,000 personal residence exemption, the 10 percent reduced rate, withholding certificates on Form 8288-B, and how buyers avoid personal liability with an Affidavit of Non-Foreign Status.
Form 5329 and the Missed RMD: How SECURE 2.0's 25%/10% Penalty Rules Work
SECURE 2.0 cut the missed-RMD excise tax from 50% to 25%, and to just 10% if the shortfall is corrected within a two-year window. Form 5329 is how taxpayers claim the reduced rate or request a full reasonable-cause waiver, and the form also starts the IRS's three-year limitations clock.
Form 8027: How Restaurants Apply the 8% Tip Allocation Rule and Avoid W-2 Box 8 Surprises
Form 8027 requires large food and beverage establishments to reconcile gross receipts against employee-reported tips and allocate any shortfall below 8% to directly tipped employees on W-2 Box 8. This guide covers the 10-employee filing test, the three approved allocation methods, the tip-versus-service-charge distinction, and the reconciliation discipline that keeps Box 8 empty.
Form 8867 Paid Preparer Due Diligence in 2026: Avoiding $650-Per-Credit Penalties on EITC, CTC, AOTC, and HOH Returns
Form 8867 due diligence carries a $650 penalty per credit in 2026 — up to $2,600 per return — plus EFIN, PTIN, and OPR risk. A practical breakdown of the four IRC §6695-2 duties, the red flags IRS examiners hunt for, and the file structure that survives a 25-return due diligence visit.
Form 941-X Explained: How Employers Correct Payroll Tax Errors, Recover Overpayments, and Stay Inside the Three-Year Statute of Limitations
A practical walkthrough of Form 941-X — when to use the adjustment process versus the claim process, the three-year (or two-year) statute of limitations, the stricter rules for federal income tax withholding, and what to put on Line 43 so the correction holds up under IRS review.
Form W-2c and W-3c: How to Correct a W-2 Without Triggering Penalty Cliffs
Form W-2c fixes errors on previously filed W-2s, but the penalty structure stacks behind the original February 2 due date — $60, $130, $340, or $680 per form depending on how late you file. A practical guide to W-2c and W-3c filing, the 10-return e-file threshold, SSA mismatch letters, and reconciling with Form 941-X.
Section 4501 Stock Buyback Excise Tax in 2026: Computing the 1% Tax, Netting Issuances, and Filing Form 7208
How publicly traded U.S. corporations compute the 1% Section 4501 stock buyback excise tax in 2026, apply the netting rule, claim statutory exceptions, and file Form 7208 — including what the November 2025 final regulations changed and where Form 720-X refund opportunities apply.
VCSP and Form 8952: Reclassify Contractors as Employees for About 1% of Back Payroll Taxes
The IRS Voluntary Classification Settlement Program lets eligible employers reclassify 1099 workers as W-2 employees for roughly 1.068% of last year's compensation, with no interest, no penalties, and no employment-tax audit of prior years on those workers.
ACA Forms 1094-C and 1095-C: The 2026 Compliance Playbook for Applicable Large Employers
How Applicable Large Employers file Forms 1094-C and 1095-C for the 2025 reporting year. Covers the March 2 and March 31, 2026 deadlines, the post-2024 furnishing-on-request rule, the 2026 penalty amounts ($3,340 and $5,010 per employee), the new 90-day Letter 226-J response window, and the Line 14/16 coding errors that most often trigger IRS audits.