by Russell Green | May 7, 2025 | IRS Resources
May 5th, 2025 The US income tax system is a “pay-as-you-go” system, which means the IRS expects individuals to pay taxes on income as they earn it, not all at once at the end of the year. If you have insufficient withholdings and/or estimates paid in, you may trigger...
by Russell Green | Dec 7, 2024 | IRS Resources
December 6th, 2024 The Internal Revenue Service has just issued Notice 2024-85 providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions during calendar years 2024 and 2025....
by Russell Green | Nov 30, 2024 | IRS Resources
May 11th, 2025 As part of ongoing efforts to combat illicit financial activities, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has implemented the Corporate Transparency Act (CTA), requiring certain entities to disclose their beneficial...
by Russell Green | Nov 22, 2024 | IRS Resources
Cryptocurrency transactions have historically been underreported, leading to a significant loss in potential tax revenue. A report from the U.S. Government Accountability Office highlighted that tax compliance rates improve dramatically with third-party reporting, but...
by Russell Green | Nov 29, 2023 | IRS Resources
November 28th, 2023 The Internal Revenue Service categorizes 1099 tax forms as information returns. These forms provide details about various financial transactions, Failure to file tax returns with government agencies and send them to individual taxpayers can...
