Taxes
Are You Ready for New 1099-K Rules?
It used to be that receiving a Form 1099-K was relatively rare. The form, technically known as Form 1099-K Payment Card and Third-Party Network Transactions was used to report payments received from various third-party resources. Prior to 2022, the monetary threshold to receive a 1099-K was $20,000, with 200 sales-related transactions required. Both requirements had to be fulfilled in order to receive a 1099-K.
Remote Workers Abroad Can Cause Employer Headaches
Ordinarily, having an employee working remotely in another state would likely give your company nexus with that state. But after the pandemic hit, several states temporarily waived the enforcement of certain nexus laws. Indiana, Massachusetts, Mississippi, New Jersey, Pennsylvania, and Washington, D.C., were among the first to announce they wouldn’t treat working from home as a nexus-generating activity if the arrangement was temporary and due to COVID-19.
Report Shows Trends Affecting Firms
Practice management is the heart and sole of an accounting firm, handling everything from initial client contact to managing workflow, to properly tracking hours and billing clients. When asked, here’s what respondents said were their biggest practice management challenges in 2021.
Infrrd Unveils Industry-first 100 Percent Accuracy Offering for Document Processing 
With its new offering, Infrrd is promising its customers they can achieve unprecedented levels of success in the extraction and processing of data from within their documents. This is due to the powerful Artificial Intelligence (AI)-led capabilities found in Infrrd’s proprietary and patented technology. Infrrd’s IDP software platform, coupled with its team of data experts (which provides as needed human-in-the-loop processing), has the ability to learn from initial errors in the processing of data and quickly correct these to ultimately reach this 100 percent accuracy target.
Webinar: Case Studies in Success: Best Practices from Busy Season
Tax and technology professionals discuss what innovative firms did this past tax season to overcome staffing challenges and over-deliver for their clients.
Gig Workers Need to Prepare for Income Tax Surprise
Will the IRS find out if you don't report your income? This is the question everyone wants to ask, but tax professionals don't want to answer because of ethical or liability concerns.
IRS to Start Requiring Facial Recognition for Tax Transcripts and Payments
That verification requirement will soon be required for all taxpayers to view other personal tax documents on the IRS website. Tax practitioners who use a secure service will still have access to IRS transcripts.
2022 IRS Tax Refund Dates: When to Expect Your Refund
The estimated refund date chart is below if you just want to scroll down. Most Americans who are expecting an income tax refund receive it by direct deposit in as little as 2 weeks after filing electronically.