The IRS officially opened tax season today, January 23, 2023. Not all taxpayers are ready to file—some, like me, are still waiting for tax forms. If you’re staring at your pile of papers (hopefully, you’ve been keeping them in one place), and are worried that you’re still missing a record or two, here are some…
Tax season will officially open on January 23, 2023. Now is a good time to start getting organized. The first step for many taxpayers? Finding those tax forms. If you don’t have have your tax forms in hand just yet, keep checking the mail: Employers are supposed to provide employees with Forms W-2 and other…
With all of the last-minute changes to the Tax Code – and those stimulus check reconciliations – it was clear that the Internal Revenue Service (IRS) was going to have to make revisions to tax forms used to file 2020 tax returns (the tax returns that you’ll file in 2021). Most tax professionals expected a…
Looking for your tax forms? Keep checking the mail: Employers are supposed to provide employees with Forms W-2 and other wage statements by February 1 in 2021. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) that was enacted on December 18, 2015, made several changes to the way we file taxes. Now, employers file…
Last year, the Internal Revenue Service introduced a draft version of a form that we haven’t seen since 1982: Form 1099-NEC, Nonemployee Compensation. Form 1099-NEC is intended to replace the nonemployee compensation part of a form many of us have come to know and love: Form 1099-MISC, Miscellaneous Income. Form 1099-MISC is sticking around for…
First things first: as of today, the 2019 tax filing season deadline remains July 15, 2020. I just wanted to get that out of the way since there are so many headlines suggesting that there’s a change on the way. As of today, nothing has changed. Here’s where we stand. On March 20, 2020, the IRS officially…
The Internal Revenue Service (IRS) will begin accepting paper and electronic tax returns on January 27, 2020. That means that tax forms used to prepare returns may already be in the hands of taxpayers, or they are on their way. Here’s what you need to know about tax form due dates and what to do if…
It’s true: Simple is hard. In an effort to make things easier for taxpayers and tax forms issuers, the Internal Revenue Service (IRS) is bringing back form 1099-NEC, Nonemployee Compensation. If that rings a bell, you’re showing your age: we haven’t seen this form since 1982. The IRS initially announced the return of form 1099-NEC…
Trying to figure out your tax forms? Here’s the next in my handy-dandy forms primer: 1099-INT, Interest Income.
As the Tax Extenders bill languishes in Congress, another band-aid bill, the short term extension of the mass transit and highway funding bill, quickly made its way through the red tape. The bill was introduced in the House on July 28, 2015 and passed on July 29, 2015. The bill passed in the Senate without…
