IRS Form 1042-S is a critical tax document for US-based businesses to report payment to foreign persons. Learn how to navigate Form 1042 in this comprehensive article.
IRS Form 1040 is used to file your individual tax return each year. You may also need to file other types of 1040 forms depending on your sources of income and the deductions you're claiming, such as Schedule A or Schedule C. Prepare for the upcoming tax
Schedule 3, Form 1040 What is IRS Form 1040 Schedule 3? Part I: Nonrefundable Credits Click to expand Key Takeaways Part I of Form 1040 Schedule 3 is for nonrefundable credits, including the Foreign Tax Credit, Child and Dependent Care Credit, education credits, and more. Line 6 of Sched...
What are 1099s? The 1099 tax form is a common IRS form covering several potentially taxable income situations. Depending on what’s happened in your financial life during the year, you could get one or more 1099 tax form “types” or even more than one of the same 1099 forms. ...
What is the Purpose of Form 8868? Form 8868is an IRS tax extension form used by tax-exempt organizations to request a 6-month extension to file their annual information returns (Original Form). This extension is automatic, which means the IRS doesn’t require you to provide any reason for...
Retention All 8879 forms are to be retained by the taxpayer/signee. Form 8879 is not sent to the IRS unless the department requests it. References Writer Bio
When completing IRS Form 8821, taxpayers must indicate the duration for which the authorization to disclose tax information is valid. This timeframe determines how long the designated third-party designee has access to the taxpayer’s confidential tax information. It is crucial to carefully consider ...
To put it simply, Form W-2 is a document used annually by individuals, the IRS, and the Social Security Administration (or SSA). It’s used for two main reasons. For one, the IRS and SSA use W-2 forms to keep track of the wages, salary, commission, and tips individuals receive th...
Do You Owe the IRS? How to Find Out If you owe back taxes, it’s important to act quickly and set up a plan to repay them. Kimberly LankfordMarch 25, 2025 Is Filing Jointly or Separately Better? Most married couples will come out ahead by filing jointly, but filing separately...
Instead, the IRS requires payers to report payments (over $600) on a tax form known as a 1099. Ahead, you’ll learn the various types of 1099 forms, who needs to file them, and how to file them properly. What is a 1099 form? IRS form 1099 is a tax form that businesses, ...