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Internal Revenue Code (IRC) Filing Requirements 1099s

Freeman Law

Penalties for Failures with Respect to Forms 1099 and Other Information Returns

Freeman Law on

Section 6721 of the Internal Revenue Code imposes a penalty on any person who fails to file a Form 1099 or other information return to the IRS by the required filing date, fails to include all information required to be shown...more

Stinson LLP

1099-K Reporting: IRS Further Delays the Day of RecKoning

Stinson LLP on

In early November, we issued an alert on the filing of information returns by payment settlement entities, such as PayPal or Venmo, when sellers of goods or services use them to carryout payments with buyers (seeĀ 1099-K...more

Stinson LLP

1099-K Reporting: Is a Day of RecKoning Coming Soon?

Stinson LLP on

In the American Rescue Plan Act of 2021, Congress lowered the minimum reporting threshold from $20,000 to $600 for filing information returns relating to reportable payment transactions that are facilitated by payment...more

Foodman CPAs & Advisors

IRS will not Quit

Voluntary compliance is the foundation of our US tax system. Taxpayers determine the correct amount of their tax and complete appropriate returns, rather than the Government determine their tax for them. According to the...more

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