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  2. Form 990 - Wikipedia

    en.wikipedia.org/wiki/Form_990

    2022 revision of Form 990. Form 990 (officially, the "Return of Organization Exempt From Income Tax" [1]) is a United States Internal Revenue Service (IRS) form that provides the public with information about a nonprofit organization. [2] It is also used by government agencies to prevent organizations from abusing their tax-exempt status. [3]

  3. Entity classification election - Wikipedia

    en.wikipedia.org/wiki/Entity_classification_election

    The IRS uses the information entered on the form to establish the entity's filing and reporting requirements for federal tax purposes. [3] Certain domestic and foreign entities that were in existence before January 1, 1997, and have an established federal tax classification generally do not need to make an election to continue that classification.

  4. Nonrecognition provisions - Wikipedia

    en.wikipedia.org/wiki/Nonrecognition_provisions

    Nonrecognition provision generally have two common themes. First, nonrecognition is conferred because it is said that the sale or exchange at issue usually involves a mere change in the form of an investment and not a change in the substance of that investment. Second, the realized gain or loss usually never disappears: the unrecognized gain or ...

  5. List of allegations of misuse of the Internal Revenue Service

    en.wikipedia.org/wiki/List_of_allegations_of...

    The committee was later renamed the Special Services Staff (SSS); the Committee and the SSS operated out of the Room 3049 in the Internal Revenue Service Building, under "Red Seal Security". Differences emerged between the service and White House over the purpose of the SSS, as the latter pushed for gathering "valuable intelligence-type ...

  6. Tax expert: New IRS funding will target the rich, crypto, and ...

    www.aol.com/finance/tax-expert-irs-funding...

    And the bureau’s recent audit trends followed this pattern. In 2019, taxpayers making over $500,000 were 9.5% more likely to get audited than taxpayers making less. “My personal observation is ...

  7. Recognition (tax) - Wikipedia

    en.wikipedia.org/wiki/Recognition_(tax)

    Recognition is mostly a matter of timing; the issue is not whether income or loss is taken into account, but when. The time of recognition may matter for a number of reasons, including the time value of money and the section 1211(b) limitation on capital losses in a single year. [3]

  8. How to Spot IRS Fraud and Other Big Phone Scams So You ... - AOL

    www.aol.com/recognize-irs-fraud-vaccine-cons...

    Be Aware of the Latest Threats. Like any other fraud, phone scams evolve and change out of necessity once the public gets wise to the scam. This means there's always a new scam on the horizon or ...

  9. IRS ditches new tax requirement for now that would have ... - AOL

    www.aol.com/finance/irs-ditches-tax-requirement...

    The Internal Revenue Service is delaying the new $600 reporting threshold for 1099-K tax forms, a move many tax experts believe will help avoid potential chaos this upcoming filing season.