Tax Resources for Accountants and Small Businesses (U.S.)
This article explains Form 1099-K using only official guidance from the Internal Revenue Service (IRS). It is designed for U.S. small businesses, online sellers, accountants, and platforms that process payments for goods and services....
Authority: Internal Revenue Service (IRS), U.S. Department of the Treasury Official source: https://www.irs.gov/filing/e-file-information-returns Overview Beginning January 1, 2024, the Internal Revenue Service (IRS) requires that any person or business filing 10 or more information...
Authority: U.S. Department of the Treasury – Financial Crimes Enforcement Network (FinCEN) Law: Corporate Transparency Act (CTA) Effective: January 1, 2024 (with amendments published March 21, 2025) What is BOI reporting Beneficial Ownership Information...