For 2023 and prior years, payment apps and online marketplaces are only required to send out Form 1099-K to taxpayers who receive over $20,000 and have over 200 transactions. The IRS had previously considered a reporting threshold requirement of $600 for third party payment organizations for tax year 2023. For tax year 2024, the Internal…
The end of the calendar year inevitably brings check lists of things we need to do. There are appointments to make, places to visit, records to gather and people to see. One important task to add to your list is to download a copy of your most recent statement from the Social Security Administration. These…
“More than anything, I find accounting to be rewarding because I am helping my clients and making a difference in their businesses.” – Katherine Chung Almost one year ago, Katherine Chung was selected to become a partner at Weiss CPA. She serves in the Tax Services department and has more than two decades of experience,…
