New Lower Threshold for Form 1099-K

Thanks to a provision in the American Rescue Plan Act, which Congress passed back in 2021 without any Republican votes, small businesses and individuals will receive millions of new tax forms in the coming months from Payment Settlement Entities (PSEs). Beginning in 2023 (for 2022 tax purposes), PayPal, Venmo and online marketplaces that connect buyers…

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IRS Extends Forms to Employees Deadline

The Internal Revenue Services (IRS) has extended the due date for distributing 2017 health coverage information forms to employees. The deadline, originally set for January 31 has now been extended to March 2, 2018. Self-insured employers and all employers with 50 or more full-time equivalent employees now have until March 2, 2018, to provide Form…

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