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IRS Announces Delay for Implementation of $600 Reporting Threshold for Third-Party Payment Platforms’ Forms 1099-K

The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay,…

12/26/2022

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IRS Releases FAQs about Energy Efficient Home Improvements and Residential Clean Energy Property Credits

Yesterday, the Internal Revenue Service released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits in Fact Sheet (FS-2022-40).…

12/23/2022

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Saver’s Credit Higher Limits can Help Low- and Moderate-Income Workers Save More in 2023

The Internal Revenue Service reminds low- and moderate-income workers that they can save for retirement now and possibly earn a special tax credit in 2022 and years ahead. The Retirement Savings…

12/23/2022

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AICPA Letter on Revised 1099-K Reporting Threshold

Last week, AICPA sent a letter to Congressional leadership of the Senate Finance Committee and the House Ways and Means Committee to express deep concerns regarding the Form 1099-K, Payment Card and…

12/20/2022

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Before Toasting the New Year, Taxpayers Should Review This To-Do List

The Internal Revenue Service today released a to-do list for taxpayers to get ready for 2023. Whether they plan to stay up to greet the new year or go to bed early, taxpayers should review…

12/15/2022

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Notice of Rule Changes to the Rules of Professional Conduct: Effective Date of 12/15/22

From the Alabama State Board of Public Accountancy: The following rules establish requirements for licensees to follow when selling, transferring, or discontinuing their practice and provides guidance…

12/6/2022

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Interest rates increase for the first quarter of 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2023. For individuals, the rate for overpayments and…

11/29/2022

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Tax Tip 2022-175: Giving Tuesday is coming; now is a good time to review tax benefits for charitable giving

The Tuesday after Thanksgiving marks Giving Tuesday when many people choose to make charitable donations. People making charitable donations for Giving Tuesday, or at any time during the year, should…

11/15/2022

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Tax Talks with ALDOR

ALDOR is expanding its outreach and focusing on direct communication with practitioners through our Tax Talks with ALDOR series. Below is an invitation where attendees may earn up to 2.4 free CPE…

11/10/2022

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