Form 1099-B Archives

Feature Article

Digital Asset Final Regulations: What Tax Professionals Need to Know

In 2021, Public Law 117-58, the Infrastructure Investment and Jobs Act, §80603, required brokers to report transactions involving digital assets similar to stocks. This includes information on sale pr... Tynisa (Ty) Gaines, EA (She/Her)

Winter 2024, Feature Article, crypto, Form 1040, Form 1099, Form 1099-B, Infrastructure Investment and Jobs Act, fair market value, Non-fungible token, NFT, Form 8949, Schedule D, FIFO, tax relief, Public Law 117-58, §80603, broker, digital asset, Treasury Decision 10000, TD 1000, stablecoins, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Public Law 111-312, Form 1099-DA, §6045, Reg. §1.1001-7, FMV, First-in-first out, Revenue Procedure 2024-28, Notice 2024-57, Coinbase, Form 1099-S

Feature Article

Decoding IRS Transcripts: Navigating the Maze for Better Tax Resolution and Audit Preparedness

Aspect-Based Sentiment Analysis: Insights from r/IRS Subreddit I analyzed tax community sentiments regarding Internal Revenue Service (IRS) transcripts from 927 “hot” posts from the r/IRS (Internal Revenue Service News, and Taxpayer Disputes) subreddit, which is one of the largest online forums comprising tax professionals with more than 79,000 members. This subreddit serves as a hub for discussions, queries, and experiences... Dr. Desai, EA

Winter 2024, Feature Article, IRS, return, resolution, audit, Schedule K-1, Form 8821, Form 2848, Form 1099-B, transcript, subreddit, r/IRS, account, substitute for return, SFR, Form 1099-INT, Form 1099-DIV, Practitioner’s Priority Services, TXMODA, transcript delivery system, TDS, PRAW, OpenAI, GPT-4, natural language processing, NLP, Generative Pre-Trained Transformer 4, Python Reddit API Wrapper

Should Congress Permanently Extend the Filing Deadline?

Feature Article

Should Congress Permanently Extend the Filing Deadline?

PRO Cryptocurrency Did Not Exist in 1955. It Is Time to Update National Tax Day. National Tax Day (April 15) has not been modified since 1955. In 1955, the federal tax code was 929 pages....

July/Aug 2022, Feature Article, S Corporations, cryptocurrency, Schedule K-1, Form 1099-B, Notice 2009-11, Emergency Economic Stabilization Act, §6072, §1.6081-4, Tax Deadline Simplification Act, H.R. 4214, Revenue Act of 1954, National Tax Day

Tax Court

Reasonable Reliance on a Tax Adviser as Viewed by the Tax Court

Circular 230, §10.35 Competence Enrolled agents, certified public accountants, and attorneys must demonstrate competence in their work before the Internal Revenue Service (IRS). According to Circular 230i §10.35(a), practitione... Sherrill Trovato, EA, USTCP

May/June 2021, Tax Court, Circular 230, Form 1099-MISC, competence, §6662, §10.35, Form 1099-B, accuracy-related penalty, §6751(b)