Now that the filing season has begun, there are several key items all taxpayers should keep in mind when filing their federal income tax returns this year. Here’s a checklist to help file an accurate tax return, avoid processing delays and speed up refund delivery. Use online resources before calling the IRS. The IRS urges…
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New Form 1040 Series Business Rules and Schema are Available
Attention: Software Developers, Return Transmitters and Authorized IRS e-File Providers/EROs Tax Year 2022 / Processing Year 2023 Schema and Business Rules Updates Schema and Business Rules: Form 1040 Series 2022v5.1 Software Developers and State organizations may download Modernized e-File (MeF) schemas and business rules from their e-Services mailbox. To access these files, you must have: An active e-Services…
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Reminder: Service providers, others may receive 1099-Ks for sales over $600 in early 2023
WASHINGTON — The Internal Revenue Service reminds taxpayers earning income from selling goods and/or providing services that they may receive Form 1099-K, Payment Card and Third-Party Network Transactions, for payment card transactions and third-party payment network transactions of more than $600 for the year. There is no change to the taxability of income; the only…
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Farmers, ranchers and farm workers can find ag-related tax info anytime on IRS.gov
The IRS website has a wealth of information for farmers, ranchers and other farm workers. Whether they’ve got a question about whether crop insurance is taxable, they need to find financial resources for a small business, or they want to learn about industry trends, the IRS.gov can help get them answers. Here are a few webpages on IRS.gov that…
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It’s not too late to catch the 2022 IRS Nationwide Tax Forum seminars
Anyone who missed the IRS Nationwide Tax Forum can stream the sessions online. Convenient on-demand viewing provides tax pros a great opportunity to earn continuing education credits. The online version of the forum consists of 18 new self-study seminars that use interactive videos, PowerPoint slides and transcripts to keep tax pros up to date. This year, the…
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