The 1099-K originates in business transactions performed using online payment systems like PayPal. The situation changed for everyone starting January 2022, eliminating a potential tax loophole for small businesses and creating substantial more risk for personal use. Continue reading Keep It Personal – Classify Your Online Payments Properly or Face the 1099-K
The government recognizes several different tax breaks for students and parents that might save you thousands of dollars. That could add up rather quickly. Continue reading Tracking Education Expenses
In an attempt to extend additional tax breaks for people who contributed to charity during the past year when so many needed the help, the IRS is offering higher than usual tax deductions for some taxpayers. Continue reading Record Your Charitable Donations
The IRS has developed a program whereby US citizens can: Share their income and bank information if they did NOT file taxes in 2019 Share their bank information if they did file taxes in 2019 Track their economic stimulus check. In order to log into the system, you need the following information: Social Security Number Your Birthdate (MM/DD/YYYY) – include the slashes (/) The Street … Continue reading Find My Economic Stimulus Payment with the IRS
