The Internal Revenue Service (IRS) has announced updates to the Schedule 2 tax form and instructions for the upcoming tax years of 2023 and 2024. TRAVERSE CITY, MI ...

On 1/22/24, the IRS reminded taxpayers that they must again answer the digital asset 2023 question on Forms 1040 and 1040-SR and report all digital asset related income when they file their 2023 ...

On 2/6/24, the IRS released new and updated FAQs regarding Form 1099-K 2023 given that on November 21, 2023 (via Notice 2023-74) the IRS announced that calendar year 2023 would also be a transition ...

The Internal Revenue Service threw a late curveball at tax professionals scrambling to meet the April 15 deadline when, on April 9, it released a post-release change updating the 2023 Partner's ...

The IRS has added a question about income from digital assets to four forms covering partnerships, corporations, S corporations, and estates and trusts for 2023 tax returns. The question appeared on ...

Trader tax status (TTS) constitutes business expense treatment, unlocking meaningful tax benefits for qualified active traders. The first step is to determine eligibility. If you qualify for TTS, you ...

A view of an IRS 1040 Tax Form on a Laptop computer screen being prepared for an electronic filing. The 2023 tax filing season is in full swing. Taxpayers and tax preparers are currently meeting to ...