delayed

Proposed $1.4 Billion IRS Funding Cut: What It Could Mean for Taxpayers

Recent budget proposals in Washington include a roughly $1.4 billion reduction to the IRS’s annual funding, with a significant portion targeted at enforcement activities. The administration has framed this as a way to streamline operations and trim “inefficiency and duplicative spending,” while House appropriators have advanced a funding bill that would lower enforcement dollars well

By |2026-04-29T02:56:30+00:00April 26th, 2026|Categories: Business, Individuals|Tags: , , , , , , , |

1099-K threshold delayed again

In the recent IR-2024-299 released at the end of November, the IRS indicated that the 1099-K threshold is delayed again. The 1099-K form is used by Third Party Settlement Organizations (TPSOs) like Venmo and similar cash apps and credit card processing vendors. The thresholds will be: 2024 - $5,000 2025 - $2,500 2026 - $600

By |2025-01-06T07:06:22+00:00December 6th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , , , |
Go to Top