Month: March 2023

Additional Tax Filing Extensions: Relief For Storm-Weary Californians

March 9, 2023

On February 24, 2023, the IRS issued News Release IR-2023-33 which extended the deadline for filing tax returns and other tax-related actions to October 16, 2023, from the previous extension date of May 15, 2023, for most California counties. The extensions apply to taxpayers living or having businesses in the counties listed below, regardless of…

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1099-Ks From Venmo and PayPal: Ignore Them at Your Peril

March 7, 2023

Most people have contact with service providers such as Paypal, Venmo, EBay and Stubhub.  Paypal and Venmo are examples of third-party settlement organizations.  EBay and Stubhub are examples of third-party payment organizations.  Prior to 2023, third-party settlement and payment organizations were obligated to send Forms 1099-K only to payees who received more than $20,000, and…

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