Form 1099-SA – Distributions from an HSA, Archer MSA, or Medicare Advantage MSA
Form 1099-SA is an important tax document that reports withdrawals you take from your Health Savings Account (HSA), Archer Medical Savings Account (MSA), or Medicare Advantage MSA. It helps the IRS keep track of these distributions for tax purposes.
Form 8889 – Health Savings Accounts (HSAs)
Form 8889 is the IRS tax form used to report your Health Savings Account (HSA) activity. It’s how you claim deductions for your HSA contributions and report any withdrawals you made.
Form 8949 – Sales and Other Dispositions of Capital Assets (critical for crypto transactions)
Form 8949 is an IRS tax form used to report the sale or disposition of capital assets, including stocks, bonds, and, importantly, cryptocurrency. Understanding this form is crucial for accurate tax reporting.
Form 1099-K – Payment Card and Third Party Network Transactions (relevant for digital asset reporting)
Form 1099-K reports payments you receive through payment cards and third-party payment networks. It’s especially relevant now due to increased digital asset transactions.
Form 8917 – Tuition and Fees Deduction
Form 8917 is used to claim the tuition and fees deduction, which helps eligible taxpayers lower their taxable income by deducting certain qualified education expenses. It's an important form for those paying for higher education.
Form 8863 – Education Credits (American Opportunity and Lifetime Learning Credits)
Form 8863 is the IRS form you'll use to claim valuable tax credits for educational expenses, which can significantly lower your tax bill. It helps make higher education more affordable.
Form 1098-E – Student Loan Interest Statement
Form 1098-E, the Student Loan Interest Statement, is a crucial document for those making payments on student loans. It helps you figure out how much student loan interest you paid, which can then be used for tax deductions.
Form 433-F – Collection Information Statement (Simplified Form)
IRS Form 433-F is a simplified form used to provide the IRS with your financial information when you owe back taxes and need to work out a payment plan. It helps the IRS understand your ability to pay.
Form 9465 – Installment Agreement Request
Form 9465 is used to request an installment agreement with the IRS, allowing taxpayers to pay off their tax debt over time instead of all at once. This form can be a helpful tool for those facing difficulty paying their full tax liability.
Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax Returns
Form 7004 is an IRS form that allows businesses to request an automatic extension of time to file their income tax returns, giving them extra time to prepare. It's a handy tool if you need more time to gather your financial information.