What are the IRS reporting requirements for rental income? If you’re a new real estate investor, you might ask yourself, “Will the IRS know about my rental income?” The answer is simple: Yes, the IRS ...

Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

The Internal Revenue Service (IRS) is set to introduce a pivotal change in income reporting through third-party payment apps. Under the new 1099-K reporting rule, platforms such as PayPal, Venmo, and ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced ...

The Internal Revenue Service is not yet out of the woods, the agency’s watchdog revealed on Wednesday in a report to Congress, signaling several areas of chronic weakness including its long battle ...

That might as well have been the text of one provision in President Donald Trump’s mega tax-and-spending-cuts package that reverses more stringent tax-reporting requirements for payment apps when it ...

According to Forbes, it is important to check all 1099 forms before filing. Most come in late January or early February but some may come throughout the year. If a 1099 is missing or has an error, you ...

Earlier this year, a federal judge sentenced a former IRS contractor to five years in prison for leaking the tax returns of multiple high-profile billionaires. The case involves genuine wrongdoing by ...

The Internal Revenue Service (IRS) has unveiled a new initiative that could potentially earn you an extra income if you report individuals engaging in illegal tax activities. This strategic plan is ...

How does the IRS define a crypto broker? The definition of the term “broker” includes individuals or entities that regularly provide services to carry out digital asset transfers. This definition ...