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As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
There are many tax law changes to be aware of in 2023 and sometimes it can be difficult to keep up with all of them. Stay on top of the latest news and tax trends by signing up for e-News ...
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.
Form 1040-X (officially, the "Amended U.S. Individual Tax Return") is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed (note: forms 1040-A and 1040-EZ were discontinued starting with tax year 2018, but a 1040X may still be filed amending one of these tax forms filed for previous years).
With only a few weeks to go until Tax Day on April 18, this year's tax filing season has been going smoothly. According to CNN, recent IRS filing statistics indicate more returns are being ...
If you're still working on filing your tax return in 2023, you're not alone. Many Americans take all the way until the final day of April 15 -- or, for 2023, April 18 -- to finish their returns.
The IRS announced it will officially begin accepting 2023 tax returns on Monday, Jan. 29.. But although official processing won't begin until that date, the agency said, filers shouldn't wait to ...
A 988 transaction is a transaction described in section 988(c)(1) of the Internal Revenue Code [1] in the United States of America.This transaction occurs when a taxpayer enters into or acquires any debt instrument, forward contract, futures contract, option, or similar financial instrument held in a non-functional currency. [1]
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