Key Updates to Form 1099-K
After a few years of delays, the reporting threshold for third party settlement organizations (TPSOs) reported on a Form 1099-K has officially dropped in 2025.…
Tax Filing Tips from the IRS
The wait is over; the filing season for 2021 income tax returns has been opened by the IRS. But before taxpayers start sharpening pencils, cranking up the calculator and putting on a pot of coffee, they need to know they’ve got everything together to get the job done right.…
Cryptocurrency and the Form 1040
Public fascination with cryptocurrency tends to follow dramatic gains and losses in the market. While the latter results in pundits sounding the death knell for Bitcoin and its ilk, the most reliable predictor for the lifespan and legitimacy of crypto lies in the Internal Revenue Service—and some newly minted crypto-holding clients may have questions about the virtual currency checkbox on their tax year 2020 Form 1040.…
The IRS Has Tips for Getting and Correcting Tax Documents
The Internal Revenue Service this week issued a tax tip to help taxpayers with missing or incorrect tax documents.…
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Gathering Records Is the First Step in Tax Preparation
It won’t be long before the Internal Revenue Service opens its gates and the filing season will be officially underway.…
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A Little Preparation Now Means Smooth Tax Filing Later
No matter what strategy taxpayers use to get their income taxes filed, gathering critical documents now can help make this tax season headache-free.…
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IRS to Businesses: Don’t Forget Backup Withholding Deadlines!
This week, the Internal Revenue Service reminded affected businesses and taxpayers that the deadlines for several backup withholding forms were looming.…
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