New Tax Rule Affecting People Who Use Venmo, Paypal Or Other Payment Apps Put On Hold … Again. Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023. […]
On November 7, 2023 Ohio voters approved legalizing recreational marijuana use in the state making Ohio the 24th state to legalize cannabis for adult-use (previously Ohio legalized only medical cannabis). This measure known as “Issue 2”, allows the adult-use sale, purchase and possession of cannabis for Ohioans who are 21 and older. The measure, effective 30 days […]
California’s Fight Against The Illegal Cannabis Market New law allows licensed cannabis businesses to pursue legal action against unlicensed cannabis operators in state superior court if they can prove damages resulting from the operation. Legal California cannabis businesses have been complaining about taxes, which in parts of the state are among the highest in the […]
On October 16, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by seawater intrusion in parts of Louisiana. These taxpayers now have until February 15, 2024, to file various federal individual and business tax returns and make tax payments. Eligible returns and payments that qualify for the November 16, 2023 deadline include: […]
Taxpayers impacted by the terrorist attacks in Israel qualify for tax relief For those whose qualify October 16, 2023 filing deadline and other deadlines postponed to October 7, 2024 On October 13, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. […]
Taxpayers impacted by seawater intrusion in parts of Louisiana qualify for tax relief On September 29, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by seawater intrusion in parts of Louisiana. These taxpayers now have until February 15, 2024, to file various federal individual and business tax returns and make tax payments. […]
Taxpayers impacted by Hurricane Lee in Maine and Massachusetts qualify for tax relief On September 25, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by Hurricane Lee anywhere in Maine and Massachusetts. These taxpayers now have until February 15, 2024, to file various federal individual and business tax returns and make tax […]
On September 13, 2023 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. These taxpayers now have until February 15, 2024, to file various federal individual and business tax returns and make tax payments. The February 15, 2024, deadline will now apply to: […]
IRS using Artificial Intelligence to crack down on millionaires to collect millions in back taxes The IRS announced on September 8, 2023 that under the Inflation Reduction Act where the IRS is receiving $80 billion in new funding, the IRS is shifting more attention onto high-income earners, partnerships, large corporations and promoters abusing the nation’s […]
Hawaii Wildfire Victims Qualify For Tax Relief On August 18, 2023 the Internal Revenue Service (IRS) announced expansive tax relief for Hawaii wildfire victims in Maui and Hawaii counties. These taxpayers now have until February 15, 2024, to file various federal individual and business tax returns and make tax payments. The February 15, 2024, deadline will now […]
Follow
Follow