Brittany Bennett, CPA, PA

12/15/2021

Beginning in tax year 2022, individuals, partnerships, LLCs, and corporations that earn more than $600 through various online venues will start receiving Form 1099-K, Payment Card and Third-Party Network Transactions, on which that income will be reported to themselves and the IRS...previously that was only issued if amount exceeded $20,000...

https://news.bloombergtax.com/tax-insights-and-commentary/new-form-1099-reporting-coming-in-2022?fbclid=IwAR0BUy3WMO0gZwG-BnWIK3dsqyi_cY5ch1RUSg_axcUKMZ6NlUnpmaMYaOE

Reporting rules are changing for certain businesses beginning in 2022. Debbie Pfieger of EY’s Financial Services Organization, highlights what you need to know about Form 1099-K, Payment Card and Third-Party Network Transactions.

06/16/2020

SBA's Economic Injury Disaster Loans and Advance Program Reopened: To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today (JUNE 15, 2020).

01/15/2020

The IRS has announced the standard mileage rates for 2020.

10/08/2019

Changes in sales tax compliance laws for remote sellers and marketplace in more than a dozen states kicked in beginning October 1, 2019.

08/14/2019

The Internal Revenue Service (IRS) has announced that it is waiving the estimated tax penalty for those who filed their 2018 federal income tax returns but did not claim the waiver.

10/04/2018

The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.

08/28/2018

Today, the Internal Revenue Service (IRS) announced that it intended to issue proposed regulations to clarify who is a qualifying relative for the new $500 credit for dependents and head of household filing status.

01/19/2018

It's been nearly a month since President Trump signed the new tax reform bill into law. Figuring out how the new deduction for pass-through businesses will work is challenging. Sometimes it helps to see it as an illustration. Here you go.