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Author Archive for Lee Forman

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IRS to Send Notices to Help Payers Correct Backup Withholding Errors

The IRS informed taxpayers that it will send Notices CP2100 and CP2100A notices to financial institutions, businesses, or payers who filed certain types of information returns that do not match IRS records, beginning mid-April 2022. These information returns include: Form 1099-B, Proceeds from Broker and Barter Exchange Transactions Form 1099-DIV, Dividends and Distributions Form 1099-G, […]

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lforman

Guidance Released for Tax Treatment and Reporting Requirements for HAF Payments

Guidance Released for Tax Treatment and Reporting Requirements for HAF Payments The IRS has released guidance which addresses the federal income tax treatment and information reporting requirements for payments made to or on behalf of financially distressed individual homeowners by a state with funds allocated from the Homeowner Assistance Fund (HAF). The fund was established […]

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