A flowing (through) organization is a legal business entity that transfers all of its income to business owners or investors.
Flow organizations are a common means used to avoid double taxation of income.
In pass-through organizations, income is only taxed at the owner’s individual tax rate on ordinary income: The business itself does not pay corporation tax.
Sole proprietorships, partnerships (limited and general partnerships and limited partnerships), LLCs and S corporations are all types of through legal entities.
One downside to pass-through flows: Owners may be taxed on income they don’t actually receive.
The Electronic Federal Tax Payment System (EFTPS) is a 24/7 service provided by the US Department of the Treasury that allows taxpayers to make tax payments over the phone or the Internet.
Form 1095-B: Health insurance contains health insurance information for taxpayers, their spouses, and dependents if they are enrolled through an insurance company.
Form 1099-R is used to report distributions of annuities, income distribution plans, retirement plans, retirement accounts, insurance contracts, or pensions.
Form 2439 is an IRS form that regulated investment companies (RICs)—mutual funds and exchange-traded funds—and real estate investment trusts (REITs) are required to circulate to shareholders to report unallocated long-term capital gains.