IRS Form 6251, titled Alternative Minimum Tax—Individuals, determines how much alternative minimum tax (AMT) you could owe. In order for wealthy individuals to pay their fair share of income tax, ...

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 ...

With the IRS getting nearly $80 billion in new funding — about $45 billion of which is specifically designated for "enforcement" — you can expect more audits. No one looks forward to an audit, and ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Are gifts income the IRS can tax? Fortunately, no, but the line ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Thus, if you call and write the issuer of the incorrect Form 1099 ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application ...

ROCK HILL, SC / ACCESSWIRE / March 4, 2024 / As tax season continues, many IRS deadlines are on the horizon for businesses. Some of the most notable and fast-approaching business tax returns include ...

The Internal Revenue Service (IRS) requires businesses to report employment taxes and withholdings through various forms. Two of the most important forms for employers are Form 940 and Form 941.