Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, ...

The Tax Cuts and Jobs Act, signed into law in December 2017, consolidated the 1040, 1040A and 1040EZ into a single and redesigned Form 1040. Form 1040-SR is relatively new. "It's available for use ...

In a letter ruling, the IRS determined that a recreational community club was not a qualified amateur sports organization.

For the 2024 tax year, single filers can add $2,000 to their standard deduction, while joint filers can add $1,600. Unlike the old Form 1040EZ, which limited income reporting, Form 1040-SR ...

What Is Form 990: Return of Organization Exempt From Income Tax? Even organizations exempt from paying federal income tax must report their activities annually to the Internal Revenue Service (IRS).