Packaging Marketplace: YOU TRADE, WE CARE!’s Post

Starting with tax year 2023, the IRS has introduced a new electronic filing requirement for businesses. This new requirement includes several common tax forms, including W-2s, 1099s, and 1098s, and is part of a broader effort by the IRS to encourage greater use of electronic filing, which generally is considered more accurate, secure, and efficient than paper filing. #IRS #BusinessTax #ElectronicFiling

The IRS is launching a new tax filing service called Direct File, allowing eligible taxpayers to file their taxes online for free directly with the IRS. The pilot aims to simplify the tax filing experience and provides a mobile-friendly, secure, and accessible platform. Direct File is created in-house with collaboration from the U.S. Digital Service and 18F. It walks users through the filing process, offering real-time live chat support and email confirmations upon submission. The pilot is introduced gradually to a limited number of users, and updates on eligibility and progress can be found on directfile.irs.gov. The service requires identity verification through ID.me, and its success in 2024 may lead to future iterations with additional authentication options. The Direct File Team invites taxpayers to consider this new option as the filing season approaches.

Starting with tax year 2023, the IRS has introduced a new electronic filing requirement for businesses. This new requirement includes several common tax forms, including W-2s, 1099s, and 1098s, and is part of a broader effort by the IRS to encourage greater use of electronic filing, which generally is considered more accurate, secure, and efficient than paper filing. #IRS #BusinessTax #ElectronicFiling

Starting with tax year 2023, the IRS has introduced a new electronic filing requirement for businesses. This new requirement includes several common tax forms, including W-2s, 1099s, and 1098s, and is part of a broader effort by the IRS to encourage greater use of electronic filing, which generally is considered more accurate, secure, and efficient than paper filing. #IRS #BusinessTax #ElectronicFiling

Starting with tax year 2023, the IRS has introduced a new electronic filing requirement for businesses. This new requirement includes several common tax forms, including W-2s, 1099s, and 1098s, and is part of a broader effort by the IRS to encourage greater use of electronic filing, which generally is considered more accurate, secure, and efficient than paper filing. #IRS #BusinessTax #ElectronicFiling

Is the IRS giving you the amended return runaround? We've all been there. You filed an amended return, weeks turn into months, and your inbox remains empty. Ugh! Don't wait in silence. Here's how to take charge: Track it online: Use the IRS's "Where's My Amended Return?" tool, but be patient - it can take up to 3 weeks to appear. Call the IRS: Dial 866-464-2050, but be prepared for long hold times. The IRS can take up to 20 weeks to process amended returns. Yikes! There's a better way! ♀️ Notice Ninja simplifies the amended return process. #taxes #amendedreturns #IRSstruggles #getyourlif back #NoticeNinja (added #getyourlif back to target the frustration of waiting) https://hubs.la/Q02BkDSg0

Starting with tax year 2023, the IRS has introduced a new electronic filing requirement for businesses. This new requirement includes several common tax forms, including W-2s, 1099s, and 1098s, and is part of a broader effort by the IRS to encourage greater use of electronic filing, which generally is considered more accurate, secure, and efficient than paper filing. #IRS #BusinessTax #ElectronicFiling

📢 IRS has announced another delay of Form 1099-K reporting threshold changes due to possible phase-in of a $5,000 reporting threshold. 💬 For calendar year 2023 reporting due in 2024, TPSOs will not be penalized for using the "old" thresholds of $20,000 and 200 transactions. For calendar year 2024 reporting due in 2025, IRS is planning to propose a $5,000 rather than $600 reporting threshold but will work with the industry and professionals on the right approach for adoption. ⚒ Discussing the reason for the delay, a quote from IRS Commissioner Werfel: "The IRS is focused on meeting taxpayers where they are and helping them get it right the first time.” In the longer term, TPSOs must keep working towards the inevitable $600 threshold of reporting. 💡 Reminder: many US States already have much lower $600 reporting thresholds for Form 1099-K reporting. These remain unchanged until indicated otherwise by the States. #TPSO #IRS #TIR #IRW #TaxReporting #1099K #GigReporting #GigPlatform

Navigating the complexities of tax regulations can be challenging, but staying informed is crucial for effective tax planning and compliance. This recent article by Accounting Today highlights 5 new IRS updates you'll want to pay attention to: ✒️ Key IRS Updates: 1. Direct File Program Revival: Introducing a streamlined, free tax filing system. 2. PTIN Fee Reductions: Easing compliance costs for tax professionals. 3. Data Breach Response: Ensuring proactive measures for data security. 4. HSA Adjustments: Adapting to economic changes to maximize your savings. 5. Strategic Operating Plan Update: Enhancing accuracy and user experience. These updates underscore the importance of adapting to new policies and leveraging opportunities to optimize your tax-saving strategies. 🔗 Read the full article to learn more: https://bit.ly/4clLZW5 #irsupdates #news #taxnews #tax #acounting #finance #trimerit #accountingtoday

We talked just last week on #AICPATownHall about the IRS moratorium on processing new #ERC claims. Here's a very interesting update from the IRS about ERC, results of the Voluntary Disclosure Program, when they expect to begin processing claims received after the Sept. moratorium, enhanced reviews and more. #CPA #Tax https://lnkd.in/euszBRca