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IRS Postpones $600 1099-K Forms for a Year

In 2021 Congress lowed the minimum reporting threshold for TPOs to any amount over $600. This change had many TPO users nervous... The change was set to go into effect for 2022, meaning that reporting would be required on upcoming tax returns. However, on December 23, 2022, the IRS issued Notice 2023-10, delaying the reporting requirement by one year.

Independent Contractor
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Are We Headed for a Recession?

Just two years removed from the last US recession, negative stock returns and aggressive US Federal Reserve interest rate hikes have many investors concerned we are headed for another big “R”—if we’re not already there.