ID.me Payment Tutorial
Pay using your IRS Account (ID.me account required) If you have an ID.me account, you can use it to easily pay any balances with the IRS. What’s ID.me? ID.me is a secure digital identity platform through which you can access tax information from the IRS including transcripts, or balances, or access other government services such […]
IRS E-Pay Tutorial
Introduction The IRS has started phasing out check payments, so now clients will need to pay through the IRS website ‘direct pay’ website or through their ID.me accounts. The direct-pay website is for one-time payments, with no account needed, whereas an ID.me account lets you log in and make payments, view balances and transcripts, and […]
IRS Direct Pay Guide
What is direct pay? You can make individual payments via the IRS’s direct-pay portal. This includes normal tax payments, estimates, or more, for both business and personal returns. You need to verify your identity by answering questions about previous tax returns in order to make payments. What payment methods are available? You can pay directly via […]
Form 1031 : Complete 2026 Guide to 1031 Exchanges
If you’re searching for “Form 1031,” you’re likely looking for one of two things and neither is officially called Form 1031. Quick Clarification If you sold an investment property and want to defer capital gains taxes, you need IRS Form 8824 (Like-Kind Exchanges) under Section 1031. If you’re a Small Business Investment Company (SBIC), you […]
Small Business Tax Preparation Checklist
Key Takeaways Your business structure determines which taxes you owe, which forms you file, and when everything is due, so that is always the starting point. Knowing your deductions before you file, not after, is the difference between paying what you owe and overpaying what you don’t. The 2026 tax year brings real changes: the […]
Form 8825: What It Is? How to Complete It?
When a partnership or S corporation owns rental real estate, that activity is generally reported on Form 8825 rather than mixed into ordinary business income on the entity return. Form 8825 reports rental real estate income and deductible expenses and feeds the net result into Schedule K of Form 1065 or Form 1120-S, then to […]
Form 4797: What It Is, How It Works, and Who Needs to File It
When a business sells a piece of equipment, a delivery vehicle, a commercial building, or any other asset it has used in operations, that transaction does not simply disappear from the tax return. It has to be reported, classified, and in many cases it triggers depreciation recapture. A mechanism that converts what might otherwise be […]
Form 943: What It Is, Who Must File, and Where to Mail It
Agricultural employers use IRS Form 943 to report federal payroll taxes for farmworkers on an annual basis rather than quarterly. It is the return for reporting federal income tax withheld, Social Security tax, Medicare tax, and Additional Medicare Tax related to agricultural wages that are subject to those rules. For employers handling 2026 farm payroll, […]
Form 8300: What It Is, Who Must File
Most business owners do not think about Form 8300 until a customer wants to pay with a large amount of cash or the business receives a notice related to information return penalties. But Form 8300 is an important compliance requirement for many cash-accepting businesses. Form 8300 is used to report certain cash payments over $10,000 […]
Form 2553 Explained: S Corporation Election Rules and Deadlines
One form, filed correctly and on time, can permanently change how a business is taxed. That form is IRS Form 2553, and for many small business owners it is one of the most important federal tax elections they will ever make. Form 2553 is used to elect S corporation status. Once the election is effective, […]