The IRS is delaying the implementation of a new tax reporting threshold for mobile payments that was set to take effect for the upcoming tax filing season. Here’s what it means for babysitters and household employees.
The IRS recently reminded taxpayers about the new tax-reporting threshold when receiving payments through mobile payment apps like Venmo or PayPal. If you receive $600 or more from these third-party payment platforms for work, side jobs, or selling goods, you’ll get a Form 1099-K in January.
Here are several important paid family and medical leave updates that impact household employers for 2023.
The IRS recently announced tax year 2023 annual tax inflation adjustments, including tax rate schedules. These adjustments generally apply to tax returns filed in 2024. Here are some of the other highlights.
For plan years beginning in 2023, the limit on an employee’s salary reduction contributions to a health FSA increases to $3,050. Here’s how a health FSA can save you and your worker money and help you attract and retain top talent.
The IRS has released its cost-of-living adjustments for employee-qualified transportation fringe benefits for the 2023 tax year.