Recent Development for Tax Products

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Recent Developments for Tax Products 06/02/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 1120-S U.S. Income Tax Return for an S Corporation 2026 06/02/2026 Form 5472 Information Return of a Foreign Owned Corporation Dec 2026 06/02/2026 Form 1065 U.S. Return of Partnership Income 2026 06/02/2026 Instruction W-9 (sp) Instructions for Form W-9 (Spanish Version) Jun 2026 06/02/2026 Form 8689 Allocation of Individual Income Tax to the U.S. Virgin Islands 2026 06/02/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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IRS Tax Tip 2026-45: Is that activity just a hobby or a business?

IRS Tax Tips June 2, 2026 Issue Number: Tax Tip 2026-45 Is that activity just a hobby or a business? Many people have hobbies - things they enjoy doing in their spare time - and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially how each is treated when it comes to filing taxes. Businesses operate to make a profit while hobbies are for pleasure or recreation. Here are some common questions people should ask themselves when deciding if what they’re doing is a hobby or business. No single thing is the deciding factor. Questions to help taxpayers decide if they have a hobby or business Is there an intent to make a profit? If the activity makes a profit, how much is it? Can they expect to make a future profit from the appreciation of the assets used in the activity? Do they depend on income from the activity for their livelihood? Are any losses due to circumstances beyond their control or are the losses normal for the startup phase of their type of business? Are operations adjusted to improve profitability? Is the activity carried out like a business with complete and accurate books and records kept? Do the taxpayers and their advisors have the knowledge needed to carry out the activity as a successful business? Taxpayers should review all the factors to make the best decision. Regardless of the decision, if they’re paid through payment apps for goods and services during the year, they may receive an IRS Form 1099-K for those transactions. These payments are taxable income and must be reported on federal tax returns. Additionally, if they received payment in the form of digital assets, they may also get a Form 1099-DA. Whether taxpayers have a hobby or run a business, good recordkeeping throughout the year will help when they file taxes. More information What to do with Form 1099-K Small Business and Self-Employed Tax Center Publication 535, Business Expenses Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C) Publication 5558, Activities Not Engaged In For Profit Audit Technique Guide PDF Subscribe to IRS Tax Tips Back to top           Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. RECEIVE TEXT MESSAGES FROM THE IRS! Did you know you can now receive IRS bulletins directly on your mobile phone? Stay informed wherever you are with convenient text message updates. Some IRS topics like IRS Newswire and QuickAlerts are available for text subscription, giving you faster access to important information through a new, easy-to-use communication channel. Additional topics will be added throughout the year, expanding the information you can receive by text. Opt-in today to start receiving IRS text message bulletins and stay connected on the go. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams/Consumer Alerts The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News IRS Resources Contact Your Local IRS Office Filing Your Taxes Forms & Instructions Frequently Asked Questions Taxpayer Advocate Service Where to File IRS Social Media

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Recent Development for Tax Products (Daily Summary)

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Recent Development for Tax Products – Daily 06/01/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 1041 (Schedule K-1) Beneficiary's Share of Income, Deductions, Credits, etc. 2026 06/01/2026 Form 1066 U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return 2026 06/01/2026 Form 8453-FE U.S. Estate or Trust Declaration for an IRS e-file Return 2026 06/01/2026 Form 990 (Schedule I) Grants and Other Assistance to Organizations, Governments, and Individuals in the United States Dec 2026 06/01/2026 Form 990-T Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)) 2026 06/01/2026 Form 1120-S (Schedule D) Capital Gains and Losses and Built-In Gains 2026 06/01/2026 Form 1066 (Schedule Q) Quarterly Notice to Residual Interest Holder of REMIC Taxable Income or Net Loss Allocation Dec 2026 06/01/2026 Form 1120-H U.S. Income Tax Return for Homeowners Associations 2026 06/01/2026 Form 1120 U.S. Corporation Income Tax Return 2026 06/01/2026 Form 8960 Net Investment Income Tax - Individuals, Estates, and Trusts 2026 06/01/2026 Form 4562 Depreciation and Amortization (Including Information on Listed Property) 2026 06/01/2026 Form 8882 Credit for Employer-Provided Childcare Facilities and Services Dec 2026 06/01/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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Recent Development for Tax Products

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Recent Developments for Tax Products 06/01/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 4562 Depreciation and Amortization (Including Information on Listed Property) 2026 06/01/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

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Recent Development for Tax Products

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Recent Developments for Tax Products 06/01/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 8960 Net Investment Income Tax - Individuals, Estates, and Trusts 2026 06/01/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

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This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535

Recent Development for Tax Products

Having trouble viewing this email? View it as a Web page.                                                                                                                                                

Recent Developments for Tax Products 06/01/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 1066 (Schedule Q) Quarterly Notice to Residual Interest Holder of REMIC Taxable Income or Net Loss Allocation Dec 2026 06/01/2026 Form 1120-H U.S. Income Tax Return for Homeowners Associations 2026 06/01/2026 Form 1120 U.S. Corporation Income Tax Return 2026 06/01/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

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This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535

Recent Development for Tax Products

Having trouble viewing this email? View it as a Web page.                                                                                                                                                

Recent Developments for Tax Products 06/01/2026
Tax Products Topics Forms & Publications All Tax Products Draft Tax Products Help with forms and instructions Post-release changes to tax forms, instructions, and publications Comments on Tax Forms, and Publications IRS Resources Taxpayer Bill of Rights Contact My Local Office File your tax return Newsroom Let us help you Taxpayer Advocate Service Where to File	The Following Early Release(s) have been posted Early Releases are draft versions of tax forms, instructions, and publications. Do not file draft forms and do not rely on information in draft instructions or publications. Product Title Rev. Date Posted Form 1120-S (Schedule D) Capital Gains and Losses and Built-In Gains 2026 06/01/2026 Back to Top Thank you for subscribing to Recent Development for Tax Products, an IRS e-mail service. This message was distributed automatically from the mailing list Recent Development for Tax Products. Please Do Not Reply To This Message.

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Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need your email address to log in. If you have questions or problems with the subscription service, visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

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This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington, D.C. 20535