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, ...

Last year, a new $600 threshold for sending a Form1099-K to report payments made through Venmo, PayPal, Amazon, Square, CashApp, and other "third-party settlement organizations" was established for ...

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 ...

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 ...

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 ...

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 ...

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

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 ...

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 ...

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 ...

Forbes contributors publish independent expert analyses and insights. Shehan Chandrasekera is the leading expert on cryptocurrency taxes. The Infrastructure Act passed by the U.S. Congress in 2021 ...