As a do-it-yourself investor (and a smart one, just not an IRA expert), Susan treated Box 2a of her 1099-R as accurate and included the full $500,000 as taxable on her tax return.

New tax rules introduce "Trump Accounts," raise 1099 thresholds, expand Opportunity Zones, and add new taxes on remittances ...

Reporting: Ensure distributions are reported correctly to the IRS (Form 1099-R). Common Mistakes to Avoid During a 401 (k) to Gold IRA Rollover As always, it is crucial to be cautious and educated to ...

10. All withdrawals from Individual Retirement Accounts will be considered distributions and reportable on IRS Form 1099-R. You must include all amounts you receive from the IRA in your gross income ...

The tax form 1099-C is used to record a cancellation of debt. While debt cancellation is good news for an individual or business, it still leads to more taxes. The IRS generally considers any ...

Under updated IRS rules, third-party payment processors must now issue a 1099-K for total transactions exceeding $600 annually - a steep drop from the previous $20,000 threshold.

The good news is that it is not really difficult to report 1099 rental income. Along with the tax return Form 1040, you will generally file IRS Form 1099-MISC, which the IRS uses to keep track of ...

Federal taxpayers who earn income not subject to withholding may need to make estimated tax payments during the year.

New IRS requirements for R&D tax credits are coming into effect for tax year 2025. Life sciences companies should prepare for ...

The One Big Beautiful Bill creates and/or modifies a number of tax rules that impact taxation of business income, including ...

How Clear Start Tax Builds Strong Cases Because the IRS process is heavily document-driven, Clear Start Tax takes a hands-on approach to preparing each Fresh Start application. Their team: ...