IRS CP10 Tax Notice on Changes in Tax Credit Carryover
The IRS CP10 tax notice is sent to a taxpayer when the IRS has made a change to your tax return because of a miscalculation.
$3,000 Capital Loss Deduction on Form 1040
Individual taxpayers are generally allowed to offset their capital gains with capital losses. Capital losses can be used to offset ordinary income up to certain limitations.
My W-2 Income is Only $10,000 – Do I Still Need to File Form 1040?
Many taxpayers wonder whether they need to file an income tax return each year. If a taxpayer has any gross income, it is generally recommended to file a Form 1040.
How Can I Verify My Address with the IRS? Request a Tax Return Transcript…
It's important to make sure the IRS has your current address on file. This ensures you receive any refund checks or other correspondence from the IRS. What are some ways to verify your address?
IRS Form 8948 – Explanation for Not Electronically Filing a Tax Return
It is highly recommended that individuals and businesses electronically file their tax returns whenever possible. In some cases, however, a paper filed submission must be made. If a paid preparer must paper file a return, an explanation is generally required.
Form 1040 Schedule H for Household Employee Taxes
If an individual taxpayer employs a full-time or part-time household employee, those wages and taxes are disclosed on Schedule H and included with the employer's Form 1040 income tax return.
IRS Form 8843 – Statement for Exempt Individuals
If a nonresident is physically present in the United States for a certain number of days, the nonresident becomes a U.S. tax resident under the substantial presence test. The individual may be able to use Form 8843 to override the substantial presence test.
IRS Form 4137 – Social Security and Medicare Taxes on Tip Income
An individual taxpayer can include Form 4137 with their income tax return to calculate any Social Security or Medicare taxes due on their tip income.
Form 1040 Instructions – Did You Trade Any Cryptocurrency?
The Form 1040 has been updated to explicitly ask taxpayers whether they received or traded any cryptocurrency or other digital assets during the tax year.
IRS Form 1040-SR vs Form 1040 – What are the Differences?
The Form 1040 and Form 1040-SR may appear to be different individual income tax returns. However, they are similar with the only difference being the size of the fonts.