Third-party settlement organizations were not required to report tax year 2022 transactions on Form 1099-K to the IRS or the payee for the lower $600 threshold amount—the existing $20,000/200 ...

The IRS may revise its proposed regulations on the sourcing of income from cloud-computing transactions, an agency official said Saturday.

The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for ...

The IRS lost 26% of its 102,000-person workforce to layoffs and buyouts this year through early June, amid a larger effort by ...

As the 2025 tax filing deadline approaches, taxpayers should be aware of several minor, yet important, changes to Internal Revenue Service (IRS) reporting requirements that could impact their 2024 ...

Statistics have shown that tax compliance increases significantly when the amounts involved are subject to third-party reporting. Salary and wage reporting compliance, for instance, is very high ...

In light of the complex new tax reporting rules that will affect payments made on e-commerce sites and apps like PayPal and Venmo, the IRS has delayed the implementation of the sweeping changes in ...

Last year, the IRS announced it was planning for a threshold of $5,000 for tax year 2024 as part of a phase-in to implement the $600 reporting threshold enacted under the American Rescue Plan.

The IRS is delaying a 2023 1099-K tax reporting requirement for third-party payment networks like PayPal and Venmo, online marketplaces like Etsy and eBay, and millions of online sellers.

What to know for 2024. But the IRS on Tuesday said for tax year 2024, rather than implement the $600 threshold it will instead “phase-in” the change, and only require third-party platforms to ...

Information reporting help. The information reporting requirement could be helpful to some taxpayers and tax preparers by providing the needed documentation for reporting on crypto transactions to the ...

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is ...