Question 1

What free tax filing options does the IRS offer for the 2026 filing season?

Accepted Answer

The IRS offers several free options. IRS Free Fillable Forms can be completed online and e-filed regardless of income (per Publication 525). IRS Direct File includes an Eligibility Checker at IRS.gov/DirectFile to help you determine if it fits your needs (per Publication 555). Military members can use MilTax through MilitaryOneSource.mil/MilTax.

Question 2

Who can use the IRS Small Business and Self-Employed Tax Center?

Accepted Answer

The SB/SE Tax Center at IRS.gov/Businesses/Small serves taxpayers who file Form 1040, Form 1040-SR, Schedule C, E, or F (Form 1040), or Form 2106. It also serves small business taxpayers with assets under $10 million, according to Publication 334.

Question 3

What is the new information reporting threshold for payments made after 2025?

Accepted Answer

For reportable payments made after 2025, the threshold increases to $2,000 for both information reporting and backup withholding, per Section 6041(a) as cited in Publication 334. However, all taxable income must still be reported on your return regardless of whether you receive a Form 1099.

Question 4

What is the One Big Beautiful Bill Act and how does it affect my 2026 taxes?

Accepted Answer

The One Big Beautiful Bill Act (P.L. 119-21) was signed on July 4, 2025, and enacts wide-ranging tax reform. It makes the 20% QBI deduction permanent, permanently extends the disallowance of excess business loss deductions with inflation-indexed thresholds, and raises the information reporting threshold to $2,000 for certain payees. The IRS directs taxpayers to IRS.gov/OBBB for ongoing updates.

Question 5

How do I access my business tax information through the IRS?

Accepted Answer

If you are a sole proprietor, partnership, S corporation, C corporation, or single-member LLC, you can view your tax information on record with the IRS through a business tax account at IRS.gov/BusinessAccount, as noted in Publication 525. This online portal lets you review records and manage certain tax matters directly with the IRS.

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