The new-for-2022 law change that sharply reduced the reporting threshold at which third-party payment settlement entities must issue a Form 1099-K, Payment Card and Third Party Network Transactions, ...

One law provision new for tax years beginning in 2022 and after that could catch many individual taxpayers by surprise — particularly those in the “gig economy” — is the much lower threshold at which ...

Unbelievably, year-end is right around the corner. The first line of business in January 2023 will be to file and issue any necessary Form 1099s. Although I am fairly new to the profession and my role ...

ROCK HILL, SC / ACCESSWIRE / October 11, 2022 / As the fourth quarter of 2022 begins, it is time that businesses of all sizes consider their year-end reporting requirements. A major component of ...

The IRS is taking a closer look at your fintech transactions. Starting in 2022, any transactions exceeding $600 and made through payment cards or apps (think Venmo, PayPal, Zelle) must be reported by ...

As a result of the American Rescue Plan Act of 2021, effective for Tax Returns for the Calendar year 2022, small business that accept payment cards as a form of payment will receive a Form 1099-K for ...

Update: This amendment did not make it onto the list of amendments that were voted on when the Senate passed the bill on Thursday, December 22, 2022. The omnibus bill is being sent to the house where ...

Selling on the likes of Etsy and eBay? The IRS doesn't want you to forget its share from your wares. Under the American Rescue Plan Act, people who sell goods or services on platforms like Etsy, eBay ...

Tax filers in California who got a Middle Class Tax Refund and a corresponding 1099 form should wait to file their federal tax returns, the IRS said Friday. The Internal Revenue Service, now two weeks ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC, Nonemployee Compensation. The IRS has ...

Each January, your mailbox and email are likely filled with tax forms. You’ll receive a W-2 reporting your wages if you work for an employer. But if you do any self-employed or freelance work, you may ...