If you received more than $5,000 for online sales of “goods or services” in 2024, you might get a Form 1099-K. Don’t ignore it, an expert says.
Category: Internal Revenue Service
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I.R.S. Fires 6,700 Employees Amid Tax Filing Season
The layoffs at the Internal Revenue Service came alongside additional firings at the Transportation Security Administration and the C.I.A.
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Elon Musk’s DOGE Team Seeks Access to I.R.S. System With Taxpayers’ Records
A White House spokesman said that the initiative called the Department of Government Efficiency needed to review data to fix waste within the agency.
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Musk Team Seeks Access to I.R.S. System With Taxpayers’ Records
A White House spokesman said that the initiative called the Department of Government Efficiency needed to review data to fix waste within the agency.
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Woman Pleads Guilty in Covid Tax Credit Scheme That Netted $33 Million
A Nevada business owner prepared and filed false tax returns to fraudulently obtain Covid relief money for her businesses and others, prosecutors said.
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You Can No Longer Buy Paper Inflation Bonds With Your Tax Refund
The Treasury Department has also eliminated the option of buying as much as $5,000 in extra inflation bonds, beyond the $10,000 annual limit.
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Senate Confirms Scott Bessent as Treasury Secretary
Bessent, a hedge fund manager, becomes the nation’s 79th Treasury secretary. He will lead President Trump’s economic agenda.
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IRS Free Tax Filing System Will Include 13 More States
The Direct File system will be open to millions of taxpayers in 25 states, up from 12 last year. But it’s unclear what will happen to the program next year.
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I.R.S. Commissioner to Quit as Trump Takes Office
The president-elect has said he plans to nominate Billy Long, a former Republican congressman, to the role.