Taxpayers who received more than $5,000 in payments for goods and services through an online marketplace or payment app in 2024 should expect to receive a Form 1099-K in January 2025. IRS will also receive a copy of your Form 1099-K. There have been no changes to the taxability of[…]
Read More »WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued proposed regulations addressing certain SECURE 2.0 Act provisions, including a provision generally requiring newly-established 401(k) and 403(b) plans to automatically enroll eligible employees beginning with the 2025 plan year. In general, unless an employee opts out, a[…]
Read More »The Internal Revenue Service today announced that the nation’s 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts. The IRS expects more than 140 million individual tax returns for tax[…]
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