filing deadlines Archives - FinanceFacts101

A clock counting down to the federal income tax deadline, symbolizing tax season and the influx of essential documents

Understanding Tax Season: Preparing for Filing Your 2023 Tax Returns

July 24, 2025 FinanceFacts101 Taxation

What is Tax Season? Tax season refers to the period when individuals and businesses prepare and file their income tax returns. In the United States, this typically takes place between January 1 and April 15 of each year. The exact deadline for filing federal tax returns varies from year to

Understanding a Notice of Deficiency: What It Is and How It Works for Taxpayers

April 9, 2025 FinanceFacts101 Taxation

Definition of a Notice of Deficiency A Notice of Deficiency, also known as an IRS 90-day letter or IRS Notice CP2319A, represents a formal determination by the Internal Revenue Service (IRS) that a taxpayer owes additional income tax, along with potential interest and penalties. Issued when the IRS identifies discrepancies

Understanding Form 4797: Reporting Gains from Business Property Sales

October 13, 2024 FinanceFacts101 Accounting

Introduction to Form 4797 Form 4797 (Sales of Business Property) is a crucial tax document distributed by the Internal Revenue Service (IRS). This form is specifically designed to report gains made from the sale or exchange of property used in a trade or business, such as rental properties and industrial,

Form 2106-EZ: A Tax Form for Unreimbursed Employee Business Expenses – Before its Elimination

October 12, 2024 FinanceFacts101 Finance Policy

Understanding Form 2106-EZ: Unreimbursed Employee Business Expenses Form 2106-EZ, also referred to as the “Employee Business Expense—Uniformed Services Members, Fees Included, and Other Expenses,” was a simplified version of Form 2106 designed for employees who needed to deduct unreimbursed business expenses from their taxable income. The Internal Revenue Service (IRS)