The IRS Advisory Council’s annual report covered 37 different areas of concern and recommendations.
Day: November 26, 2024
IRS again delays effective date of $600 threshold for Form 1099-K reporting
The delay, the third by the IRS for Form 1099-K reporting for third-party settlement organizations, will treat 2024 and 2025 as transition years.
Trump tax policy 2.0: 11 proposed changes and impacts
What does the 2024 Trump tax plan mean for you and your clients this time around?
New FASB standard addresses induced conversions
The standard aims to provide guidance missing in GAAP for the reporting of induced conversions related to settlement of convertible debt instruments.
PCAOB offers guidance on quality control standard
The Public Company Accounting Oversight Board introduced two pieces of guidance to help auditing firms apply its new quality control standard.
In the blogs: You will survive
Saving Social Security; sued over an address; more 5471 opinions; and other highlights from our favorite tax bloggers.
IRS phases in Form 1099-K threshold at $2,500 in 2025
The Internal Revenue Service extended its transition relief for the new Form 1099-K information reporting threshold.