FL - Interest rates for first half of 2025 announced
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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The IRS has released guidance to help taxpayers understand what to do with Form 1099-K. Responding to feedback from taxpayers, tax professionals and payment processors, the agency had announced back in November, 2023 that the reporting threshold for Form 1099-K, Payment Card and Third Party Network Transactions, would remain over $20,000 in payments and over 200 transactions. The Form 1099-K provides the gross amount of payment card/third party network transactions and may include a combination of different kinds of total payments received. In addition, the IRS emphasized that, just because a payment is reported on a Form 1099-K does not mean it’s taxable; so, taxpayers should take caution in reviewing the forms and determine any deductible expenses associated with the payment they may be able to claim when they file their taxes. For more details on what to do with Form 1099-K, visit the IRS website.
FS-2024-7
The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments […]
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The sale, rental, and associated charges for the design, installation, removal, and storage of holiday decorations and lighting are subject […]
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The IRS has offered some tips to taxpayers about scammers using fake charities to exploit unsuspecting donors in the aftermath […]
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The IRS has provided a safe harbor under Code Sec. 213(d) for amounts paid for condoms. Because amounts paid for condoms are […]
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The IRS has encouraged taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related […]
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The IRS has made significant progress on Employee Retention Credit (ERC) claims, with processing underway on about 400,000 claims, worth […]
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The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving […]
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The IRS Independent Office of Appeals (Appeals) today launched a pilot program as part of the IRS’ ongoing transformation efforts […]
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