Grand Haven Accounting and Consulting

11/24/2023

The IRS said Tuesday that it will once again delay of the application of the Form 1099-K $600 reporting threshold. And, for 2024, it is setting the threshold at $5,000.

11/23/2023

11/06/2023

announces 401(k) limit increases to $23,000 for 2024.

Learn more about this and the rise of other pension limits at: https://ow.ly/Lr9n50Q3gpu

10/24/2023

As part of efforts to improve taxpayer service, the will test out a new Direct File tool in the 2024 tax season. The pilot will allow eligible taxpayers in 13 states to file their federal tax returns directly with the IRS for free. Learn more at: https://ow.ly/5lXM50PXTtR

08/09/2023

IR-2023-133, July 24, 2023 — As part of a larger transformation effort, the Internal Revenue Service today announced a major policy change that will end most unannounced visits to taxpayers by agency revenue officers to reduce public confusion and enhance overall safety measures for taxpayers and ...

07/27/2023

IR-2022-234, December 29, 2022 — The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

03/14/2023

IR-2022-182, October 18, 2022 — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.

01/10/2023

Tax Tip 2023-03: Tax basics: Understanding the difference between standard and itemized deductions Internal Revenue Service (IRS) sent this bulletin at 01/10/2023 08:00 AM EST IRS Tax Tips January 10, 2023 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS....

12/26/2022

Good news!

Tax professionals and consumers are likely to cheer the delay, which means the pre-2022 threshold of $20,000 for more than 200 transactions applies for now.