Tax Blog

The Internal Revenue Service updated and modified guidance surrounding an assortment of clean energy credits and other provisions over the closing days of 2023. Some of the changes will be in effect next tax season, while other alterations will not be realized for a year or more. Here is a brief overview of what to expect on the clean energy front in the near future.… Read more about IRS Updates Flurry of Clean Energy Provisions in Closing Days of 2023 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS delayed the implementation of the new $600 Form 1099-K reporting threshold for third-party payment organizations. They plan a phased-in approach, with a $5,000 threshold set for 2024 to gradually implement the reporting requirements introduced under the American Rescue Plan. Read about the policy in our latest blog post.… Read more about IRS Delays 2023 Form 1099-K Threshold, Introduces $5,000 for 2024 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS and its Security Summit partners from the national tax industry and state tax agencies announced the 8th annual National Tax Security Awareness Week, set to begin November 27. Read more about the education and resources available to tax preparers in the latest edition of the blog.… Read more about National Tax Security Week Begins November 27 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The opportunity to receive a pandemic-driven tax credit is still available to taxpayers who haven’t taken advantage of it during the main Covid outbreak. But the window of time is closing fast, making filing a claim for qualifying taxpayers (tax years 2020 or 2021) a priority. Check out our latest blog post to find out how to file your pandemic tax claim in time.… Read more about Time Running Out to File for Recovery Rebate Credit (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS is increasing maximum contribution amounts for 401(k) plans in 2024. Learn more about these changes and how to advise your clients on today’s blog by Bob Williams.… Read more about Retirement Contribution Amounts Increased for 2024 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

It’s almost that time of year when tax professionals need to renew their Preparer Tax Identification Numbers (PTINs). This identification number expires annually on December 31st for paid tax professionals. Our blog post provides tips and tricks for PTIN renewal so you can hit the ground running for the new tax season.… Read more about Time to Renew PTINs for 2024 Tax Season (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…