2024 IRS Updates for Forms 1099-K, 1099-DA, W-9, and Paper Filing (TY 2023)

IRS Updates -- Woman Office Worker Handing Paperwork

For the tax year 2023, there have been many notable IRS updates affecting Forms 1099-K, W-9, and the new 1099-DA, along with changes to electronic filing requirements. Key highlights include the postponed $600 threshold for 1099-K, revisions to W-9, the debut of 1099-DA for digital assets, and a lowered threshold for mandatory electronic filing. This … Read more

Information Returns – Form 1099 Series, part 2

form 1099, 1099, irs forms, irs, information returns

An Information Return is a tax form used to report to the federal government, non-payroll related payments made from a business, agency or person to another person or company. You also must furnish copies of the information returns to recipients for payments reported. Failure to file the information returns by specified due dates could result … Read more