IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K

IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K

WASHINGTON — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay, third-party settlement organizations will not be...
Don’t let a tax mistake ruin newlywed bliss

Don’t let a tax mistake ruin newlywed bliss

Tax Tip 2022-188, December 8, 2022 When people get married their tax situation often changes. A taxpayer’s marital status as of December 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Here’s a...
Get ready for taxes: What’s new and what to consider when filing in 2023

Get ready for taxes: What’s new and what to consider when filing in 2023

WASHINGTON – The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A ”Get...
Giving Tuesday is coming; now is a good time to review tax benefits for charitable giving

Giving Tuesday is coming; now is a good time to review tax benefits for charitable giving

The Tuesday after Thanksgiving marks Giving Tuesday when many people choose to make charitable donations. People making charitable donations for Giving Tuesday, or at any time during the year, should review whether their gift is tax-deductible. Donations to charities...

Summary of Tax Credits Available with the Inflation Reduction Act of 2022

The passing of the Inflation Reduction Act in August has led to many questions regarding the purchase of Electric Vehicles (EV) and Energy Efficient Home Improvements in regards to potential tax credits. To help answer some of the questions you may have, we have...