If you use P2P (Peer-to-Peer) payment apps, such as Venmo, Square Cash or PayPal, you may be surprised early next year when you find an IRS 1099-K form in your mailbox. Under the American Rescue Plan, a new law requires P2P providers to send you and the IRS a 1099-K if the gross amount of […]
Archives for April 2022
Leveraging Third-party Consultants to Give Your Organization a Competitive Edge
Lack of specialized knowledge, technology and resources can make it challenging for organizations to complete all essential tasks in-house. So it’s no surprise that roughly 300,000 U.S. jobs are outsourced each year. Depending on your needs, third-party consultants can lend their expertise to a specific project like a software implementation, oversee ongoing needs such as […]
Getting Ahead of 2023 IRS Cryptocurrency Reporting Requirements
Know those 1099-B forms that show up at tax time from your broker? Well, if you’re dabbling in cryptocurrency, you’ll soon be seeing more of them. Starting in 2023, U.S. legislation now extends the same transaction reporting rules to cryptocurrency exchanges, custodians or platforms (e.g., Coinbase, Gemini or Binance), as well as digital assets, such as cryptocurrency […]