Library.

“An S corporation has an April 15 federal income tax return filing deadline.”

The standard deadline stated in the claim is incorrect for calendar-year S corporations. Federal law generally requires an S corporation to file by the 15th day of the third month after its tax year ends—normally March 15 for a calendar-year filer. April 15 can apply to an S corporation with a January 31 fiscal-year end, but that narrow exception does not justify the unqualified statement.

“A calendar-year C corporation can obtain an automatic six-month extension to file its federal income tax return by timely filing Internal Revenue Service Form 7004.”

Timely filing a properly completed Form 7004 gives a calendar-year C corporation an automatic six-month filing extension. Current IRS instructions and Treasury regulations support that period. The five-month transition language for pre-2026 tax years did not prevent Treasury from granting six months under its separate statutory authority.

“An S corporation files its federal income tax return on Internal Revenue Service Form 1120.”

S corporations generally file their federal returns on Form 1120-S, not Form 1120. IRS materials explicitly identify Form 1120-S as the “U.S. Income Tax Return for an S Corporation,” while plain Form 1120 is a distinct return generally associated with C corporations. Omitting the “-S” changes the form being identified and makes the statement incorrect.

“The Internal Revenue Service does not impose U.S. capital gains tax on the sale of foreign real estate that is a primary residence for a U.S. citizen who is a foreign resident taxpayer.”

The claim is not supported by U.S. tax law. U.S. citizens abroad are generally taxed on worldwide income, including gains from selling foreign real estate. A qualifying foreign primary residence may receive the same IRC §121 exclusion as a U.S. home, but that exclusion is limited, conditional, and does not eliminate tax on all such sales.

“The top 1 percent of US taxpayers pay approximately 40 percent of all federal income tax revenue.”

Recent IRS-based data place the top 1% at roughly 38% to 42% of federal individual income taxes, so “approximately 40 percent” is an accurate summary. The claim is reliable when read narrowly as individual federal income tax share. Confusion arises only when it is mistakenly compared with the top 1% share of all federal taxes, which is a different measure.

“Under Internal Revenue Service news release IR-2026-58, a taxpayer who has not yet responded to Internal Revenue Service Letter 105-C or Letter 106-C is not considered to be waiting for the Internal Revenue Service to consider their response, has not triggered Internal Revenue Service review, and therefore does not meet the first eligibility condition for the streamlined process described in IR-2026-58.”

The release’s eligibility language is best read to require that a response to Letter 105-C or 106-C has already been sent. That means a taxpayer who has not yet responded generally does not meet the first condition for the streamlined Form 907 process in IR-2026-58. The claim overstates one point, however, because the release does not expressly say that no IRS review has been triggered.

“The Internal Revenue Service is offering rewards to individuals who provide information regarding tax fraud as of April 23, 2026.”

The IRS Whistleblower Program is confirmed as actively operational on the claim date, with official IRS communications from as recently as April 17, 2026, explicitly stating the program "offers monetary awards of up to 30% of proceeds collected" for information about tax noncompliance. Multiple IRS pages direct the public to submit Form 211 to claim awards. While eligibility thresholds and collection contingencies apply, these are standard program conditions that do not negate the existence of the reward offer.

“The IRS will provide $1,390 stimulus checks in 2026.”

This claim is false. The IRS has not announced or authorized any $1,390 stimulus check program for 2026, and Congress has not approved such payments. The "$1,390" figure circulating online is a viral rumor. Some individual taxpayers may receive refunds near that amount based on their personal tax situations, but that is not a stimulus program. The only official IRS documentation available discusses payment modernization — not stimulus checks. Multiple credible sources have debunked this claim.