On February 15, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, tornadoes and flooding that began on August 24, 2023 in parts of Michigan. These taxpayers now have until June 17, 2024, to file...
More than $482 million recovered from 1,600 millionaires who have not paid tax debts. Under the Inflation Reduction Act the IRS is receiving $80 billion in new funding over nine years. The $80 billion price tag is more than six times the current annual IRS budget of...
On February 7, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, flooding, landslides and mudslides that began on August 28, 2023 in parts of West Virginia. These taxpayers now have until June 17,...
IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably...
On February 5, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms and flooding that began on December 17, 2023 in parts of Maine. These taxpayers now have until June 17, 2024, to file various federal...
On January 30, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, flooding and tornadoes that began on September 10, 2023 in parts of Rhode Island. These taxpayers now have until June 17, 2024,...
On January 22, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, flooding and a potential dam breach that began on January 10, 2024 in parts of Connecticut. These taxpayers now have until June 17,...
On December 22, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms and tornadoes that began on December 9 in parts of Tennessee. These taxpayers now have until June 17, 2024, to file various federal...
On August 16, 2022 President Biden signed the 2022 Inflation Reduction Act which has some favorable tax changes you should be aware especially now that we are approaching the end of 2023. Major Changes From The New Law Include: A three-year extension of expanded...
Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement...
