Archive for November, 2023

IRS delays implementation of lower $600 reporting threshold for 1099-K

New IRS notice 1099-K for small vendors will be subject to existing requirements for TY 2023, followed by a phased-in approach.

IRS Releases 2024 tax inflation adjustments

IRS releases inflation adjustments for 2024. Inflation adjustments impact individual tax brackets and other various provisions of the Code.

IRS releases 2024 retirement plan limitations

Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.