These red flags that can trigger an IRS tax audit are ‘low hanging fruit,' expert says
IRS software compares these tax forms to your return, and it can be "flagged for audit" when there's a mismatch, explained Elizabeth Young, director of tax practice and ethics for the American ...
Hosted on MSN1d
The IRS Has Sent $16.6 Billion in Tax Refunds Two Weeks Into Tax Season 2025
The IRS started accepting 2024 tax returns on Jan. 27, and on Friday the agency posted the statistics so far from tax season ...
Tax Filing Season Statistics Still Point To Sluggish Start
Early filing data reflects a nearly 8% downturn in tax returns received compared to the prior year. That’s on top of a 14% ...
You could see this tax form for the ‘first time ever' this season, taxpayer advocate says
You could receive Form 1099-K for business payments from Venmo or PayPal this season. Here’s what taxpayers need to know.
The IRS Is Watching: 5 Red Flags That Could Trigger an Audit
The IRS is always on the lookout for tax returns that just don't make sense. Making these five errors can increase the ...
Kiplinger3d
Types of Income the IRS Doesn't Tax: What to Know for 2025
A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions ...
Here’s When You Can Expect Your IRS Tax Refund and How You Can Track It
There are three status updates which the taxpayer might see: “received return,” “refund approved,” or “refund sent.” If the ...
The Recipient Copy Deadline for 1099-B, 1099-S, and 1099-MISC is Approaching Fast: TaxBandits Makes Distribution Easy
Businesses must meet the February 18, 2025 deadline to furnish recipient copies of Forms 1099-B, 1099-S, and 1099-MISC (Boxes 8 and 10) ROCK ...
Le Lézard5d
From the Tax Law Offices of David W. Klasing - New IRS Guidance on Cryptocurrency Complicates Reporting but Includes Temporary Safe Harbor
Cryptocurrency has found popularity among Americans as both an investment vehicle and a method of engaging in transactions with others. With its increase in popularity, the Internal Revenue Service ...