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, ...

The information reporting form, IRS Form 1099-K (Payment Card and Third-Party Network Transactions), is used to track business payments made through credit or debit card and peer-to-peer services such ...

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 ...

Global tax software provider Sovos announced that it will be continuously monitoring changes to “provide ongoing updates and advice to help small- and medium-sized businesses navigate the complexities ...

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 ...

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 ...

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 ...

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 ...

With the passage of the U.S. infrastructure bill in November, “crypto brokers” (i.e., cryptocurrency exchanges and other third parties that facilitate the transfer of digital assets) will be required ...