Reported 3 days ago
The tax season begins today, introducing two significant changes. The IRS has expanded its Direct File program to 25 states, allowing eligible taxpayers to file their returns directly for free, with improved features. Additionally, new reporting rules via a 1099-K form apply to users of payment apps like Venmo and PayPal, targeting tax fraud by lowering the reporting threshold to $600 for business transactions.
Source: YAHOO