Form 8949 Archives | EA Journal

Feature Article

Not Every Internal Revenue Service Letter Is an Audit: Representing Individual Taxpayers in Underreporter and Correspondence Examination Matters

Most individual taxpayers who hear from the Internal Revenue Service (IRS) never sit across a table from an examiner. They open an envelope. What that envelope contains may come from either of two distinct compliance programs, and the d... Anish Sanghi, EA

Fall 2026, Feature Article, CP2000, failure-to-pay, examination, Form 12203, Schedule C, failure-to- deposit, Schedule D, §6212, Form 2848, Circular 230 §10.21, §6664(c), Form 12661, earned income tax credit, Circular 230 §10.33, §6511, EITC, §7602(a), First- Time Abatement program, §6662, Form 4549, FTA, Centralized Authorization File, Automated Underreporter, Automatic Exemption from Penalty program, Form 1099-B, AUR, AEP, Schedule A, CP 2501, §6664(c)(1), Form 8949, Circular 230 §10.22(a), audit, failure-to-file, Form 1040-X, IRS Document Upload Tool

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

Tax Tech

Are Non-fungible Tokens Collectibles?

Non-fungible tokens (NFTs) became incredibly popular during the recent cryptocurrency boom and remain actively traded as a new asset class. Non-fungible tokens are unique digital assets that can represent ownership of v... Zac McClure

Winter 2023, Tax Tech, virtual, collectibles, cryptocurrency, Schedule D, crypto, §408(m)(2), bitcoin, Notice 2023-27, Ethereum, Treasury, capital gains, Non-fungible token, NFT, Form 8949

Ethical Considerations with Cryptocurrency Tax Preparation

Tax Tech

Ethical Considerations with Cryptocurrency Tax Preparation

Cryptocurrency taxation is an area that is here to stay, even though many tax professionals may wish otherwise. A March 2022 NBC News survey shows that more than 20 percent of American adults have interacted with cryptocurrency.i Some professionals... Matt Metras, EA

Sept/Oct 2022, Tax Tech, Form 8949, technology, cryptocurrency, bitcoin, ethics, Office of Professional Responsibility, Schedule C, Ethereum, Schedule 1, Form 8867