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FordHarrison

How the One Big Beautiful Bill Act May Impact Employers

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On July 4, 2025, President Trump signed into law a bill entitled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” generally referred to as the One Big Beautiful Bill Act (the OBBBA). The OBBBA...more

Littler

Tax Bill Changes 1099 Reporting Thresholds

Littler on

The “One Big Beautiful Bill Act” signed into law on July 4, 2025, makes two important changes to tax reporting requirements that should be of interest to employers....more

Foodman CPAs & Advisors

1099-K: Will Small Businesses Be Ready For The New Form?

As a result of the American Rescue Plan Act of 2021, effective for Tax Returns for the Calendar year 2022, small business that accept payment cards as a form of payment will receive a Form 1099-K for the gross amount of the...more

Harris Beach Murtha PLLC

New IRS Form 1099-K Rules May Create Tax Reporting Complications For Online Businesses And Gig Workers

The information reporting form, IRS Form 1099-K (Payment Card and Third-Party Network Transactions), is used to track business payments made through credit or debit card and peer-to-peer services such as Venmo, Cash App and...more

Morgan Lewis - ML Benefits

Separate State Filing Required for Form 1099-NEC

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate directors, from Form...more

Best Best & Krieger LLP

Reporting Non-Employee Compensation: A Year of Change

The New Form 1099-NEC Changes Non-Employee Compensation Reporting Requirements - The IRS has made significant changes as to how non-employee compensation must be reported. In the past, compensation of $600 or more paid to...more

Morgan Lewis

Nonemployee Compensation Reportable on Revived Form 1099-NEC for 2020 Payments

Morgan Lewis on

The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. ...more

Foodman CPAs & Advisors

IRS is on to Self-Employed Taxpayers

On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the Report “Expansion of the Gig Economy Warrants Focus on Improving Self-Employment Tax Compliance”. ...more

Jackson Lewis P.C.

The IRS Is On The Case – “Expansion Of The Gig Economy Warrants Focus On Improving Self-Employment Tax Compliance”

Jackson Lewis P.C. on

The nature of work is changing with more and more individuals choosing to be “gig” workers rather than employees. This change fundamentally alters the availability of employee benefits, as well as the applicable taxation...more

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