Tax guidance, plainly explained

Who must file Form 5227, the April 15 due date for calendar-year trusts, Form 8868 extensions, and Schedule A (IRS).

Form 4563 for bona fide residents of American Samoa: what income can be excluded, what the form asks, and the deduction limits that apply (IRS).

Who files Form 3520-A, the 15th-day due date, the substitute form rule, and the penalty in the 2025 instructions (IRS).

Form 2553 basics: who may elect S corporation status, the 2-month-and-15-day deadline, shareholder consent, and late election relief (IRS).

Who must file Form 2290, the 55,000-pound threshold, the month-of-first-use due dates, and Schedule 1 (IRS).

How to report tax return preparer misconduct to the IRS, what Form 14157 covers, the online route at IRS.gov/SubmitATip, and what to attach (IRS).

When to use Form 14039 for tax-related identity theft, what each section asks, how to submit it, and how to get an IP PIN (IRS).

When Form 12203 asks IRS Appeals to review audit changes of $25,000 or less, what to list on it, and what happens if no agreement is reached (IRS).

What Form 1127 asks for, what undue hardship means to the IRS, the two statements you must attach, and how it differs from a payment plan (IRS).

When a corporation must attach Form 1118, how excess foreign taxes carry back one year and forward ten, and when the election can be made or changed (IRS).

What Form 1099-PATR reports from a cooperative, which boxes matter to members, and what the 2025 instructions say (IRS).

What Form 1096 does, which forms need it, how to complete its boxes, and the 2025 paper and e-file dates (IRS, 2025 instructions).

What Form 1042-S reports for foreign persons, who files it, the March 15 deadline, and what to check on the copy you receive (IRS).

Form 1040-NR basics: who must file, the April 15 due date for most people, Schedule NEC, Schedule A, and when Form 8833 may apply (IRS).

Standard meal and snack rates for family daycare, and the home use rules for daycare space, per IRS Publication 587 (2025).

How a dual-status tax year works, which income is taxed in each part of the year, and which return to file, per IRS Publication 519 (2025).

How to value donated property: fair market value, used clothing and household items, the $500 and $5,000 thresholds, and Form 8283.

How MACRS recovery periods, the half-year convention, and the 2025 special depreciation allowance work, per IRS Publication 946 (2025).

How combat zone and contingency service extends IRS deadlines for filing, paying, and other IRS actions, from Publication 3 (2025).

How federal civil service retirement annuity payments split into taxable and nontaxable parts, per IRS Publication 721 (2025).

How the cash and accrual methods differ, when inventory requires accrual, and the small business exception, per IRS Publication 334 (2025).

Who must file Form 1120, the 21% corporate income tax rate, the April due date, and estimated tax, per the 2025 IRS instructions.

How the $25 per-person limit for business gifts works, the indirect gift rules, incidental costs, and the records Publication 463 says to keep.

How bona fide residence in Puerto Rico, Guam, the CNMI, the USVI, or American Samoa affects which returns you file, per IRS Publication 570 (2025).

Basis is your investment in property for tax purposes. Learn what adds to cost, what lowers adjusted basis, and how gifts and inheritances work.

The extra standard deduction for age 65 or older or blind, with 2025 amounts and filing thresholds, per IRS Publication 554 (2025).

Basic 403(b) rules from Publication 571: contribution types, the 2025 deferral limit, Roth contributions, early withdrawals, and required distributions.

Workers' compensation for a work injury or illness is generally exempt from federal income tax. Learn the limits and the parts that can be taxable.

Many VA disability and education payments are excluded from federal income. Learn which veterans' benefits the IRS says not to include.

Employer-paid transit, commuter rides, and qualified parking can be excluded up to $325 a month each. Learn the limits and the records to keep.

The substantial presence test counts your days in the United States over three years. Learn the 31-day and 183-day rules and the weights.

Union strike and lockout benefits are usually income. Learn the narrow gift exception, how property is valued, and what records to keep.

A SEP IRA lets an employer contribute to employees' retirement accounts. Learn the eligibility rules, the 2025 limit, and the deadline.

Sick pay from your employer is taxable. Learn when sick pay from an insurer or fund is taxable, and how the premium payer decides the answer.

Severance pay is taxable income and counts as wages. Learn how it is taxed, how a reduced payment works, and what records to keep.

Self-employed people can deduct health insurance premiums on Schedule 1, within limits. Learn the net profit rule, the employer-plan rule, and Form 7206.

Part of a scholarship can be excluded from income. Learn which uses count as tuition and course costs, and which amounts must be reported.

If you are a partner, you get a Schedule K-1 each year. Learn what it reports, why it is your share, and how distributions affect your basis.

Schedule C reports income and expenses from a business you run alone. Learn who files it and what counts as a business expense.

Royalties from copyrights, patents, and oil, gas, or mineral property are taxable. Learn where to report them on Schedule E or Schedule C.