Tag Archives: third party
Form 1099-K – More Time Given by IRS
Last week, the IRS made some much-needed additions to its frequently asked questions page. These new additions were made regarding form 1099-K, which is the form used to report information about taxpayers’ use of third-party payment networks.… Continue reading
Tax Professionals Warned to be Weary of False ERC Claims This Year
While the Employee Retention Credit has helped out tons of employees throughout the United States, it has also caused tax preparers to be extra cautious when filing these claims. Currently, the IRS is working diligently to help practitioners prepare for … Continue reading
IRS Reminder – Americans Earning Over $600 on PayPal, Venmo, or Cash App Must Report Earnings
As a result of the American Rescue Plan Act of 2021, people who use third party platforms such as Venmo, Cash App, or PayPal to collect payments for a business or hobby, must report payments of $600 or more to … Continue reading