Holiday Office Hours
We will be observing the following office hours during the holiday season:
Monday, December 25, 2023, and Tuesday, December 26, 2023
Office will be closed all day.
Monday, January 1, 2024
Office will be closed all day.
Merry Christmas and Happy Holidays to all our clients and friends!
We wish you the very best during this holiday season and upcoming New Year.
IRS/Social Security Administration Release Important 2024 Changes
IRS Announces Delay in Form 1099-K Reporting
The IRS has announced a delay of the new $600 Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023. As the IRS continues to work to implement the new law, the agency will treat 2023 as an additional transition year. This will reduce the potential confusion caused by the distribution of an estimated 44 million Forms 1099-K sent to many taxpayers who wouldn't expect one and may not have a tax obligation. As a result, reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023.
Federal Tax Credits for EV’s Purchased in 2023
Did you purchase a new Electric Vehicle in 2023 and want to know the requirements to receive a federal tax credit? Well now you can check for yourself if your car qualifies and how much of a
credit you can receive. Click on the following link
for more information: https://fueleconomy.gov/feg/tax2023.shtml