
Republicans Protest Biden’s IRS Threshold Requirement for Online Purchases
The IRS said last week it is once again delaying implementation of the new $600 1099-K threshold for tax year 2023.
The IRS said last week it is once again delaying implementation of the new $600 1099-K threshold for tax year 2023.
The reclassification of cannabis will allow cannabis businesses to benefit from these tax credits and initiatives for programs or systems that many are already implementing.
Treasury secretary says cutting IRS funding to pay for Republicans’ $14.3 billion Israel aid bill would be “damaging and irresponsible.”
House Republicans passed a $14.3 billion Israel aid package Thursday, triggering a clash with Democrats over tax law enforcement.
The legislation, championed by new House Speaker Mike Johnson, has already run into stiff bipartisan opposition from the Senate.
The agency has increased staffing at its TACs by 31% during FY 2023 thanks to funding from the Inflation Reduction Act.
As of June 30, the agency has spent approximately $1.95 billion of the nearly $80 billion it will receive over a 10-year period.
The number of returns reporting the surtax has more than doubled and revenue from the tax has grown by $38 billion over the past decade.