Archive Monthly Archives: January 2024
The IRS Delays $600 1099-K Threshold for Another Year
The Internal Revenue Service recently said it would postpone the $600 threshold for reporting transactions on Form 1099-K for the second year in a row, and begin to phase in a threshold of $5,000 starting
Read MoreIRS grants $1B in penalty relief
The IRS has granted about $1 billion in penalty relief to some 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic.Most
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