What is IRS Form 15397?
IRS Form 15397 is a recently introduced form used to request an extension of time to furnish recipient copies of […]
IRS FIRE File Types
The IRS FIRE (Filing Information Returns Electronically) System supports various file types for electronically filing information returns. Below is an
How do I attain a TCC number for the IRS FIRE System?
The TCC is required for electronically filing information returns like Forms 1099, 1098, 5498, W-2G, and others through the IRS
What information should be entered in Box 6 (Identifiable event code), and how is it determined?
Box 6 on Form 1099-C (Cancellation of Debt) is used to report the identifiable event code, which indicates the specific
What are the different income codes for various types of U.S.-source income?
In the context of Form 1042-S, which reports U.S.-source income paid to nonresident aliens, there are various income codes used
What steps should a recipient take if they believe the Form 1099-NEC they received is incorrect?
If a taxpayer believes that the Form 1099-NEC (used to report nonemployee compensation) they received is incorrect, they should take
What if the gambling winnings are offset by losses—can this be reflected on the W-2G?
No, gambling losses cannot be used to offset gambling winnings directly on Form W-2G. The form is strictly used to
Is Form 1095-B still relevant after the individual mandate penalty was reduced to $0 federally?
Yes, Form 1095-B is still relevant despite the federal individual mandate penalty being reduced to $0 starting in 2019 under
Does a transmitter control code expire?
Yes, a transmitter control code (TCC) issued by the IRS can expire, but it depends on the specific usage and
Does Form 8027 apply to food trucks, catering services, or delivery-only businesses?
Form 8027, the Employer’s Annual Information Return of Tip Income and Allocated Tips, typically does not apply to food trucks,