Kelly Phillips Erb is a Forbes senior writer who covers tax. The Internal Revenue Service (IRS) has released the very-probably-unless-Congress-does-something-soon final version of Form 1040, U.S.

The IRS announced Monday that it has begun accepting Forms 1040-X, Amended U.S. Individual Income Tax Return, electronically, which it calls a “major milestone in tax administration” (IR-2020-182).

In 2014 the IRS issued Notice 2014-21 (“Notice”) regarding the application of the Internal Revenue Code to transactions using virtual currency. The IRS advised that virtual currencies which could be ...

Forbes contributors publish independent expert analyses and insights. Bruce makes the law and tax code understandable to everyone. Tax Season 2021 has begun. When you dig into your tax return for ...

The IRS has released the 2020 draft form, and it includes the question about whether a taxpayer invested in cryptocurrency or not near the top of the first page. This question first appeared for the ...

Crypto users in the U.S. have taken to Twitter to express their confusion and frustration over the wording of a question about virtual currencies on this year’s tax return form. On Dec. 11, the IRS ...

The IRS may update its Form 1040 to make sure all taxpayers who engage in cryptocurrency transactions report them. A draft of the 2020 tax form includes a question asking taxpayers whether they have ...

The Internal Revenue Service is considering adding a question to Form 1040—America's primary income tax form—asking tax filers if they dealt in virtual currency in 2020. It would be the agency's ...

Taxpayers are now able to file amended returns electronically in more of the Form 1040 series, the IRS announced Thursday in a news release. In addition, the IRS announced it has added a checkbox to ...

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS ...

The U.S. tax agency has clarified who needs to answer "yes" to a question over cryptocurrency activity included in the draft 1040 federal income tax form. As reported in September, the Internal ...