We released a brand new version of www.complyexchange.com that will make your online experience even better! Our new website includes several new features so that you can learn all about the Comply Ecosystem. With AI-inspired tax technology, automating your compliance needs has never been so simple.… Read More »Check Out Our New Website Updates Today!
Are you interested in learning more about how upfront W-8 collection and validation can lead to easier and more accurate 1042-S reporting? Check out a recap of our joint session with Sovos where Wendy Walker and Jessica Metts discuss how tax documents, like W8s, play… Read More »The Role That W-8 Collection Plays in 1042-S Reporting
On February 28, 2023, the IRS released IRS Tax Tip 2023-25, “What to do when a W-2 or Form 1099 is missing or incorrect”. This is a practical guide for taxpayers on the appropriate steps to obtain and review all necessary documentation prior to filing… Read More »How to handle a missing or incorrect W-2 or Form 1099
On Tuesday, February 21, 2023, the IRS released final regulations amending the rules for filing electronically made by the Taxpayer First Act (“TFA”). The regulations for specified returns will be effective as of the date published within the Federal Register which is scheduled for February… Read More »Final Regulations: Electronic-Filing Requirements for Specified Returns and Other Documents
With the Form 1099 reporting deadline quickly approaching, we are providing a refresh of the extension process below: Some providers should consider whether an extension is needed and applicable. Please refer to the IRS’s General Instructions for Certain Information Returns for specific due dates and… Read More »Form 1099 Extension Process
David Marley was vetted and selected by a Forbes Technology Council review committee based on the depth and diversity of his experience. Forbes Council is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council… Read More »Forbes Technology Council accepts David Marley, Comply Exchange CEO
On December 28, 2022, the IRS updated the frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet FS-2022-41: https://www.irs.gov/pub/taxpros/fs-2022-41.pdf Updates were made to the following sections of the FAQs: – Definitions – General information – Individuals Notably,… Read More »IRS updated the frequently asked questions (FAQs)
On December 30, the Internal Revenue Service (IRS) released Notice 2023-11, Foreign Financial Institution Temporary U.S. Taxpayer Identification Number Relief: https://www.irs.gov/pub/irs-drop/n-23-11.pdf As an overview, this notice is a refined and continued extension of temporary relief for Foreign Financial Institutions (“FFI”) in a Model 1 Intergovernmental… Read More »IRS released Notice 2023-11
On December 23, 2022, the IRS released Announcement 2023-2 providing transitional relief and delaying the reporting for digital assets. These rules, originally expected to apply at the beginning of 2023 with reporting in 2024, will now be delayed until the Treasury Department and the IRS… Read More »IRS released Announcement 2023-2
Form 1099-K $600 Reporting Threshold Delayed by IRS
