Increased Standard Mileage and FSA Rates for 2024
The I.R.S. has just announced that for 2024, a rate of $ 0.67/mile may be used to compensate employees for business travel in their personal vehicles. To qualify to use…
Closeup of Form 1099-K, Payment Card and Third Party Network Transactions, an IRS information return used to report certain payment transactions to improve voluntary tax compliance.
1099-K Reporting Threshold for Third-Party Platform Payments Delayed
The IRS has delayed the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar year 2023. Reporting will not be required for 2023 unless the taxpayer receives…