Department of the Treasury

  • New 1065 Instructions Unveiled

    The Internal Revenue Service has released an early draft of the instructions to Form 1065, U.S. Return for Partnership Income for tax year 2020 (filing season 2021). The changes include revised instructions for partnerships that are required to report capital accounts to partners on Schedule K-1 (Form 1065). The revision, the IRS says, is part…

  • Treasury Sending Prepaid Debit Cards to Some EIP Recipients

    Would you prefer to receive your Economic Impact Payment on a prepaid debit card? The Treasury Department said that will be a reality for almost 4 million Americans in a recent press release, which announced that “EIP Cards” will be issued by MetaBank as part of the US Debit Card Program. Treasury Secretary Steven Mnuchin…