For 2021 reporting, the title for Form 1099-MISC has been changed form Miscellaneous Income to Miscellaneous Information Critical Dos and Don’ts with Form 1099-MISC Do report gross proceeds to an attorney (not fees) on Form 1099-MISC. Do complete a 1099-MISC if you made royalty payments of at least $10 during the year. Do use Form […]

Filing 10 Forms or More? The IRS counsel has issued proposed regulations to reduce the current 250-return threshold to 100 in 2022 and to 10 in 2023 You May Be Required to E-File to Meet Tax Laws On Wednesday July 21st, IRS re-proposed regulations for electronic filing requirements for specifiedreturns and documents under the Taxpayer First […]