The IRS wants to know how much money you’re making online. They even have a new tax form for it
IRS Form 1099-K could be in your future if you sold items via online marketplaces like eBay and Venmo. Here’s what you need ...
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Freelancers, decode taxes! Section 44ADA simplified for you
Freelancers choosing Section 44ADA have to declare a minimum of 50% of their gross receipts as income, but they can still ...
JD Supra6d
Supreme Court of Ohio Affirms Denial of Healthcare Service Provider’s Commercial Activity Tax Refund Claim
The Supreme Court of Ohio upheld the denial of Total Renal Care, Inc.’s (“TRC”) refund claim of Ohio Commercial Activity Tax (“CAT”) that it paid ...
Tax Guru4d
Presumptive Taxation for Freelancers with Foreign Income
Summary: Presumptive Taxation under Section 44ADA of the Income Tax Act simplifies tax compliance for Indian freelancers earning from Indian and foreign clients. Freelancers in specified professions ...
JD Supra10d
National Taxpayer Advocate’s Annual Report Highlights Issues Plaguing the IRS
In her annual report to Congress for 2024, National Taxpayer Advocate (“NTA”) Erin M. Collins identified the processing of ...
New York Post4d
NY coffers hit new high from marijuana tax receipts: ‘It’s extraordinary’
An excise tax of 3.15 percent also is imposed on the gross receipts from medical cannabis firms that have been in existence for a decade. Forty percent of the state’s revenue from the legal ...