94 tagged with "Irs Reporting"
IRS reporting requirements for cryptocurrency and investments
NFT Taxes Demystified: A Practical Guide for Creators, Collectors, and Traders
NFTs are taxed as property under US rules. Long-term gains on collectible NFTs are capped at 28%, creator sales are ordinary self-employment income, and Form 1099-DA reporting from marketplaces begins with 2025 transactions. This guide covers the math, the forms, and the moves to make before filing.
Section 1031 Like-Kind Exchange: A Real Estate Investor's Guide to Indefinite Tax Deferral
Section 1031 lets real estate investors defer capital gains and depreciation recapture by swapping investment properties, but only when the 45-day identification window, 180-day closing deadline, qualified intermediary rules, and post-TCJA like-kind requirements are followed exactly.
FBAR and FATCA Decoded: The Foreign Account Reporting Rules That Cost Americans Billions
A plain-English guide to FBAR and FATCA for U.S. taxpayers — who must file, the $10,000 aggregate threshold, Form 8938 tiers, post-Bittner penalties capped at $16,536 per form, and how the Streamlined Procedures fix years of missed filings without penalty.
Employee Retention Credit Update 2026: Pending Refunds, New Compliance Rules, and What to Do Next
As of 2026, most outstanding Employee Retention Credit claims sit in audit, appeal, or litigation rather than ordinary processing queues. The One, Big, Beautiful Bill Act blocked late 2021 Q3/Q4 claims filed after January 31, 2024, and extended the IRS audit window for ERC claims to six years.
Form W-9 Demystified: The 2026 Guide for Freelancers, Contractors, and Small Businesses
Form W-9 collects your taxpayer ID so payers can issue accurate 1099s. The 2026 OBBBA raised the reporting threshold from $600 to $2,000, and the IRS released a revised form. This guide explains the line-by-line mechanics, the single-member LLC mistake that triggers backup withholding, and the recordkeeping habits that keep January boring.
IRS Form 1099-MISC: The Complete Guide to Reporting Miscellaneous Payments in 2026
Form 1099-MISC reports rent, royalties, prizes, and attorney settlements. Under the One Big Beautiful Bill Act, the 2026 reporting threshold jumps from $600 to $2,000. This guide breaks down which box to use, the filing calendar, and the penalty tiers that turn small mistakes into thousands of dollars.
How to Pay Off Tax Debt: A Complete Guide to IRS Payment Options and Settlement Strategies
A practical breakdown of every IRS option for resolving tax debt in 2026—short-term plans, installment agreements up to 72 months, Offers in Compromise (accepted on roughly 30%–40% of applications), Currently Not Collectible status, and bankruptcy—plus how clean bookkeeping cuts the assessed bill before negotiation begins.
Penalty for Filing Taxes Late: What You Owe and How to Reduce It
The IRS charges 5% per month for late filing (capped at 25%) plus 0.5% per month for late payment, with daily-compounding interest at 7% in Q1 2026. This guide details how each penalty is calculated and four programs — First-Time Abatement, reasonable cause, installment agreements, and Offer in Compromise — that can reduce or remove what you owe.
Tax Relief Companies: How to Tell Legitimate Help From Scams in 2026
How to distinguish legitimate tax resolution firms from Offer in Compromise mills—what services should cost in 2026, the IRS-flagged red flags that should end a sales call, and the free alternatives most callers never hear about.
What Happens at the IRS After You File: A Realistic Processing Timeline
A walkthrough of what the IRS actually does with a return after you file. 24-48 hour acceptance checks, automated math-error and information-return matching, the three Where's My Refund statuses, the 21-day refund target, common rejection reasons, and what each CP notice code means.
When Can You File Taxes? The Complete 2026 Filing Season Timeline
The IRS opens the 2026 filing season on January 26, with W-2s and most 1099s due by January 31. Filing early protects against refund fraud, speeds direct-deposit refunds within 21 days, and beats the April rush — but waiting can be smarter when K-1s or corrected brokerage 1099s are still in transit.
IRS Phone Numbers: The Complete Contact Guide for Faster, Smarter Calls
A directory of IRS phone numbers organized by category—individual taxpayers, businesses, refunds, identity theft, liens, transcripts—with best times to call and tactics for avoiding queue transfers.