Form 1040-SR

IRS Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS information return used to report certain payment transactions to improve voluntary tax compliance.

Advance CTC payments must be reconciled on the 2021 tax return. Excess advance payment amounts received will be required to be repaid in certain circumstances. To reconcile amounts received for the advance child tax credit, entries must be made on the 8812 screen in Drake Tax 2021.

Beginning in 2018 the previous federal deduction for employee business expenses reported on Form 2106 has been suspended unless the taxpayer meets certain criteria. [CC]