NYCPA News and Blogs

Changing the Form 1099-K reporting threshold may cause many businesses to abandon online marketplaces and gig economy jobs,…

With Congress still needing to pass bills to keep the government open by early next year, there may be little time to…

The IRS has hired an independent research firm that may randomly phone tax professionals for a survey between Nov. 27, 2023,…

Once again, the IRS has deferred changing the reporting threshold for third-party settlement organizations for a year. The…

In a Nov. 17 letter, a group of U.S. lawmakers has asked the IRS to provide updated and detailed information about its…

The IRS will keep interest rates the same for the calendar quarter beginning Jan. 1, 2024. For individuals, the rate for…

The IRS is raising the federal estate tax exemption amount to $13.61million for 2024, one of the inflation adjustments for…

The IRS expects to receive roughly 44 million Form 1099-Ks in 2024—about 30 million more than in 2023—but does not have…

The IRS's decision to destroy around 30 million unprocessed paper information returns to reduce its backlog during the…