Because of how IRS computer systems are configured, the IRS computers will not detect an over-reporting of income and send ...

Internal Revenue Service. "Form 1099-C, Cancellation of Debt." Internal Revenue Service. "Schedule 1 (Form 1040), Additional Income and Adjustments to Income." Page 1.

The 2025 tax season is already underway, and as the days go by, many taxpayers are anxiously awaiting the date when they will be able to receive their refunds from the Internal Rev ...

The IRS has audited significantly less than 1% of all individual returns in recent years, so most taxpayers can rest easy. But if you file a Schedule C to report profit or loss from a business ...

The IRS says the average taxpayer will spend more than ten hours working on the schedule C, including nearly two hours learning about it. Well, here's the short course, a rundown of the paperwork ...

Individuals using Zelle for business transactions must independently report their income on Schedule C of their tax return.

If you do any sort of gig work, you need Schedule C to file. TurboTax offers a Free Edition* that allows you to report W-2 and limited 1099-INT/1099-DIV/1099-OID income. You can’t itemize, but this ...