Is Form 1096 Required for 1099-NEC?
Understand when Form 1096 is needed for 1099-NECs. Your filing method, paper or electronic, is the crucial factor for this IRS summary transmittal form.
Investment and Financial Markets
Where to Find Interest Expense on Financial Statements
Understand a company’s debt by learning how financial statements connect the reported interest expense to the original loans and the actual cash paid.
Instructions for Filing Form 8275-R
Learn the proper use of Form 8275-R to disclose a tax position contrary to a Treasury regulation, a key step for potential penalty protection.
Delaware 529 Plan Tax Deduction: What You Need to Know
Understand how contributions to Delaware’s official 529 plan can lower your state tax liability and the key rules that govern your deduction.
ASU 2020-06 Summary: Key Accounting Changes
Explore ASU 2020-06’s shift to a unified accounting model for convertible instruments and its effect on diluted earnings per share comparability.
What Is an Applicable Financial Statement?
Discover how certain financial statements dictate the timing of revenue recognition for tax, creating a crucial link between book and tax reporting.
What Is Form 1040-SS and Who Is Required to File It?
For self-employed residents in U.S. territories, understand the function of Form 1040-SS for paying into Social Security and claiming federal credits.
IRS Publication 3119: E-File Provider Requirements
Explore the essential framework for IRS e-file providers. This guide covers the operational, compliance, and technical standards for program participation.
How to Fill Out 2022 Form 8889 for Your HSA
Navigate IRS Form 8889 to accurately report your HSA activity. This guide helps ensure you claim the proper tax deduction for your 2022 return.
What Is the Income Tax Percentage in Missouri?
Understand the components of your Missouri tax bill. This guide covers state marginal rates and the key factors that shape your final tax liability.
The 3 Tax Buckets Strategy for Retirement
A strategic approach to retirement savings involves more than just picking investments. See how organizing accounts by tax treatment can lower your lifetime tax bill.
What the New Tax Law Means for Charitable Donations
Explore how current tax laws affect charitable contributions and learn planning strategies to maximize the financial benefits of your giving.
Tax Rules for a Partnership Interest in an Estate or Trust
For a fiduciary, an inherited partnership interest is governed by a distinct set of tax rules. Understand the critical steps for managing and distributing the asset.
Are 401(k) Contributions Pre-Tax or After-Tax?
Clarify the tax implications of your 401(k) contributions. Learn how pre-tax and various after-tax options impact your current and future finances.
What Are the IRS Chapter 4 Compliance Requirements?
Understand the operational framework of IRS Chapter 4. This guide explains how to properly classify foreign payees and meet FATCA compliance obligations.
Is a Pension a Deferred Compensation Plan?
Explore the relationship between pensions and deferred compensation. Learn how a plan’s specific classification impacts its tax rules and your retirement security.
Form 8880 Income Limits for the Saver’s Credit
Understand how your AGI and filing status directly influence the tax credit you can claim for retirement savings when you file Form 8880.
What Does Roll Forward Mean in an Audit?
Explore the roll forward, a key audit procedure for extending interim testing to the year-end balance by examining activity in the intervening period.
Funding an IRA: Contribution Rules and Methods
Ensure your IRA funding is compliant and effective. Learn the essential regulations and procedural steps for making contributions to your retirement account.
1099-B Box 12: What It Means for Your Tax Return
Understand the significance of Box 12 on your 1099-B. This guide clarifies how your reported basis impacts your tax return and how to proceed correctly.