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, ...

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 ...

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 ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. IRS Forms 1099 allow computer matching of Social Security numbers ...

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 ...

Taxes are complicated. Whether preparing your tax return or filing your tax return, chances are you’re not completely confident in the numbers you’re seeing. But like most Americans, you’ll also be ...

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 ...