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Noteworthy 2023 IRS Inflation Tax Changes and Accounting Considerations for High Inflation

Noteworthy 2023 IRS Inflation Tax Changes and Accounting Considerations for High Inflation

🖨 Print⏱ 4 min readWith the world seeing inflation, the Internal Revenue Service (IRS) has issued guidance for tax filers. Based upon an October 2022 IRS News Release, there have been more than 60 adjustments in conjunction with its yearly inflation alterations. Highlights of inflation adjustments include increasing the married […]

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Understanding the Latest Modifications to Form 1099-K Reporting Requirements

Understanding the Latest Modifications to Form 1099-K Reporting Requirements

🖨 Print⏱ 3 min readThere has been updated guidance on how and when tax filers must file and report Form 1099-K, Payment Card, and Third-Party Network Transactions in 2022 and 2023. According to the December IRS release, new income and transaction reporting requirements for so-called third-party settlement organizations (TPSOs) have […]

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