Tax Resources for Accountants and Small Businesses (U.S.)
IRS Publication 1281 explains how backup withholding works when a payee’s name or Taxpayer Identification Number (TIN) is missing or does not match IRS records. The publication provides guidance for payers who file information...
The 3.8% Net Investment Income Tax (NIIT) remains an important consideration for high-income individuals, estates, and trusts in the 2025/2026 tax year. Originally introduced as part of the Affordable Care Act, this surtax continues...
Staying current with IRS requirements is essential for tax professionals preparing for the upcoming filing season. Each year, the Internal Revenue Service issues updates related to compliance, security, and professional responsibilities. The following IRS...
Download the official IRS Form 1040 for 2025 Download Free Federal Income Tax Form 1040 (Excel Spreadsheet) From Excel1040.com – The original, fully functional Excel-based Form 1040 spreadsheet. Includes built-in IRS calculations, all 2025...
Misclassifying workers as independent contractors instead of employees can create federal tax and wage-and-hour exposure. The good news is that U.S. employers may be able to correct worker classification voluntarily—especially for federal employment tax...
Article explains what is Form W-8 BEN-E and gives detailed instructions on how to fill it in case of foreign company.
Codes for the Principal Business or Professional Activity classify sole proprietorships by the type of activity they are engaged in to facilitate the administration of the Internal Revenue Code. These six-digit codes are based...
A Cafeteria Plan, also known as a Section 125 plan, is an employer-sponsored benefit arrangement that allows employees to choose between taxable wages and certain qualified, tax-free benefits. These plans are regulated under Internal...
What Is a First B Notice? When you file Form 1099s and the Internal Revenue Service (IRS) identifies a vendor’s or payee’s name and Taxpayer Identification Number (TIN) combination as mismatched, you may receive...
What Is Adjusted Gross Income (AGI)? Adjusted Gross Income (AGI) is an IRS-defined measure of income calculated as gross income from all taxable sources minus specific adjustments allowed under the Internal Revenue Code. AGI...
What Is Modified Adjusted Gross Income (MAGI)? Modified Adjusted Gross Income (MAGI) is an IRS-defined calculation used to determine eligibility for several federal tax benefits. Although MAGI is based on Adjusted Gross Income (AGI),...
What is an IRS “B” Notice? A “B” Notice is a backup-withholding alert you must send when you receive a CP2100 or CP2100A notice from the IRS. It means the name and taxpayer identification number...
Like Share Print Form 1040, U.S. Individual Income Tax Return Annual income tax return filed by citizens or residents of the United States. Instructions for Form 1040 Forms and Schedules for Form 1040 2013...
The Applicable Federal Rate (AFR) is updated every month by the Internal Revenue Service (IRS). For 2025, AFR levels reflect the continuing adjustment of federal interest rates in response to broader economic trends and...
This article explains Form 1099-K using only official guidance from the Internal Revenue Service (IRS). It is designed for U.S. small businesses, online sellers, accountants, and platforms that process payments for goods and services....
Authority: Internal Revenue Service (IRS), U.S. Department of the Treasury Official source: https://www.irs.gov/filing/e-file-information-returns Overview Beginning January 1, 2024, the Internal Revenue Service (IRS) requires that any person or business filing 10 or more information...
Based on official IRS publications and announcements (updated November 2025). Overview The One Big Beautiful Bill Act (OBBBA), enacted in 2025, introduced several tax provisions administered by the Internal Revenue Service (IRS). The Act...
If you receive a CP2100 or CP2100A Notice from the IRS, it means some of the name and taxpayer identification number (TIN) combinations on your Forms 1099 don’t match IRS or Social Security Administration...
Updated: October 30, 2025 Understanding the IRS Second B Notice When you issue Form 1099s to vendors or contractors, the IRS expects each payee’s name and taxpayer identification number (TIN) to match official records....
Introduction Receiving a letter from the IRS can be stressful, especially when it says “CP 2100 Notice” or “B Notice.”Don’t panic — this notice does not mean you are being audited or owe money.It...