Update – 1099-K Reporting Rules
Last week we made a post laying out the new 1099-K rules. Shortly after our post went live, the IRS announced that they are delaying the implementation of the $600 reporting threshold for third party payment platforms. The IRS outlined that the 2022 calendar year will be a transition period as part of the implementation that is now scheduled to start for 2023.
Andy is a CPA and trusted advisor with 15 years of experience providing tax, accounting, assurance, and consulting services to transportation industry owners and operators. He is a tax principal with CLA in the Minneapolis, MN office. He also consults with high net worth individuals and owners of closely-held transportation businesses on all aspects of tax planning, estate planning, and retirement planning. Andy is also the tax leader for transportation industry across CLA.
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