The IRS will have much less of a view into how much income small businesses and independent contractors make because there ...

Third-party settlement organizations were not required to report tax year 2022 transactions on Form 1099-K to the IRS or the payee for the lower $600 threshold amount—the existing $20,000/200 ...

Clear Start Tax explains how income mismatches trigger audits, and what taxpayers can do to stay compliant. IRVINE, CA / ...

The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for ...

Statistics have shown that tax compliance increases significantly when the amounts involved are subject to third-party reporting. Salary and wage reporting compliance, for instance, is very high ...

The IRS lost 26% of its 102,000-person workforce to layoffs and buyouts this year through early June, amid a larger effort by ...

Slot machine players just caught a break. The tax law that President Donald Trump signed in early July — the One Big Beautiful Bill Act — quietly raised the federal tax reporting threshold for slot ...

Last year, the IRS announced it was planning for a threshold of $5,000 for tax year 2024 as part of a phase-in to implement the $600 reporting threshold enacted under the American Rescue Plan.

What to know for 2024. But the IRS on Tuesday said for tax year 2024, rather than implement the $600 threshold it will instead “phase-in” the change, and only require third-party platforms to ...

Information reporting help. The information reporting requirement could be helpful to some taxpayers and tax preparers by providing the needed documentation for reporting on crypto transactions to the ...

As the 2025 tax filing deadline approaches, taxpayers should be aware of several minor, yet important, changes to Internal Revenue Service (IRS) reporting requirements that could impact their 2024 ...

What to know for 2024. But the IRS on Tuesday said for tax year 2024, rather than implement the $600 threshold it will instead “phase-in” the change, and only require third-party platforms to ...