IRS Launches New Effort Aimed at High-Income Non-Filers (March 2024)
在一个 信 to IRS Commissioner Danny Werfel last October, NAEA offered the enrolled agents perspective on the agency’s significant cutback to compliance initiatives and requested IRS start sending reminder notices immediately to non-filers and those with balances due in excess of $10,000.
IRS Announces Delay in Form 1099-K Reporting Threshold for Third Party Platform Payments in 2023 (November 2023)
NAEA asserted the $600 threshold is too low and will lead to taxpayer confusion around which transactions are taxable income and which are more personal and non-taxable. The $600 threshold creates a high compliance burden for small businesses and taxpayers. As a result, IRS plans for a threshold of $5,000 for 2024 to phase in implementation.
IRS Launches Paperless Processing Initiative (August 2023)
The announcement comes as 黄金城电子娱乐网址国税局 has been under pressure from NAEA and other stakeholders to show progress in their efforts to modernize the agency and improve customer service with the influx of funding from the Inflation Reduction Act. The paperless processing initiative gives taxpayers the option to go paperless for IRS correspondence by the 2024 tax season and allowing the agency to achieve paperless processing for all returns by the 2025 tax season.