Bookmark and Share [ [link removed] ]
a { color:#0073AF !important;} a:hover { color:#004673 !important;}
IRS.gov Banner
IRS Tax Tips December 13, 2023
Useful Links:
IRS.gov [ [link removed] ]
Help For Hurricane Victims [ [link removed] ]
________________________________________________________________________
News Essentials
What's Hot [ [link removed] ]
News Releases [ [link removed] ]
IRS - The Basics [ [link removed] ]
IRS Guidance [ [link removed] ]
Media Contacts [ [link removed] ]
Facts & Figures [ [link removed] ]
Around The Nation [ [link removed] ]
e-News Subscriptions [ [link removed] ]
________________________________________________________________________
The Newsroom Topics
Multimedia?Center [ [link removed] ]
Noticias en Espa?ol [ [link removed] ]
Radio PSAs [ [link removed] ]
Tax Scams/Consumer Alerts [ [link removed] ]
The Tax Gap [ [link removed] ]
Fact?Sheets [ [link removed] ]
IRS Tax Tips [ [link removed] ]
Armed Forces [ [link removed] ]
Latest News [ [link removed] ]
________________________________________________________________________
IRS Resources
Contact?Your Local IRS?Office [ [link removed] ]
Filing Your Taxes [ [link removed] ]
Forms & Instructions [ [link removed] ]
Frequently Asked Questions [ [link removed] ]
Taxpayer Advocate Service [ [link removed] ]
Where to File [ [link removed] ]
IRS Social Media [ [link removed] ]
?
________________________________________________________________________
Issue Number:??Tax Tip 2023-126
*Businesses can file Form 1099 series information returns for free*
Business taxpayers can file electronically any Form 1099 series information returns for free with the IRS Information Returns Intake System (IRIS) [ [link removed] ]. IRIS accepts 1099 series forms for tax year 2022 and after. IRIS is available to any business of any size. It?s secure and accurate and it requires no special software. It also reduces the need for paper forms.
Starting in tax year 2023, businesses with a combination of 10 or more information returns must file them electronically.
*With IRIS, business taxpayers can*:
* Enter information into the portal or upload a file with a downloadable template in IRIS.
* Download completed copies of Form 1099-series information returns.
* Submit extensions.
* Make corrections to information returns filed with IRIS.
* Get alerts for input errors and missing information.
* Get a confirmation in a little as 48 hours that the IRS received the return.
* Reduce expenses on paper, postage, storage space and trips to the post office.
*1099-K reporting threshold delayed for third party platform payments*
The IRS delayed the new $600 Form 1099-K reporting threshold requirement for third party payment organizations for tax year 2023. For 2023 and prior years, payment apps and online marketplaces are required to send out Forms 1099-K only to taxpayers who receive over $20,000 and have over 200 transactions. For tax year 2024, the IRS plans for a threshold of $5,000 to phase in the new reporting requirements.
*More information*:
* Publication 5717, IRIS Taxpayer Portal User Guide [ [link removed] ]
* General Instructions for Certain Information Returns (Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498 and W-2G) [ [link removed] ]
?
?
Back to top [ #top ]
?
________________________________________________________________________
FaceBook Logo [ [link removed] ]??YouTube Logo [ [link removed] ] ?Instagram Logo [ [link removed] ]? Twitter Logo [ [link removed] ] ?LinkedIn Logo [ [link removed] ]
________________________________________________________________________
Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov [ [link removed] ].
This message was distributed automatically from the IRS Tax Tips mailing list. *Please Do Not Reply To This Message.*
?
________________________________________________________________________
Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page [ [link removed] ]. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com [ [link removed] ].
This service is provided to you at no charge by the Internal Revenue Service (IRS) [ [link removed] ].
body .abe-column-block {min-height: 5px;} ________________________________________________________________________
This email was sent to
[email protected] by: Internal Revenue Service (IRS) ? Internal Revenue Service ? 1111 Constitution Ave. N.W. ? Washington DC 20535 GovDelivery logo [ [link removed] ]
body .abe-column-block { min-height: 5px; } table.gd_combo_table img {margin-left:10px; margin-right:10px;} table.gd_combo_table div.govd_image_display img, table.gd_combo_table td.gd_combo_image_cell img {margin-left:0px; margin-right:0px;}
