Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 24, 2022 – October 28, 2022. October 24, 2022: The IRS released ...

The IRS on Friday announced a delay in the $600 reporting threshold for third-party settlement organizations, which had been in effect for the 2022 calendar year. As a result, the IRS says third-party ...

The IRS requires Purdue, as an employer, to report whether an employee and dependents (if applicable) had coverage in 2022. Therefore, employees receive Form 1095-C, which details whether they were ...

On 9/1/22, the IRS posted Form 1040 2022 Draft. Form 1040 is the U.S. Individual Income Tax Return and since tax year 2019, Form 1040 has been asking taxpayers about their virtual currency doings on ...

Christmas came early (again) this year for many taxpayers and tax professionals. The IRS has announced that it would (again) delay the new $600 Form 1099-K reporting threshold for third-party ...

Tax season has officially begun. But it also feels like, "oh no, tax season has officially begun." We know the feeling, which is why USA Today's putting together a series of stories to make the season ...

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 21, 2022 – November 25, 2022. November 21, 2022: The IRS ...

As background, changes made by the Tax Cuts and Jobs Act in 2017 required the IRS to revise the withholding tables and develop new forms to use to withhold taxes from periodic payments. As we near the ...

An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new “Digital Asset” category. American taxpayers will find a broader, more defined ...

The IRS collected a single-year record of $4.9 trillion of total tax revenue from return filings in fiscal year 2022, the Treasury Inspector General for Tax Administration (TIGTA) said in a report on ...