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Here’s why you may get Form 1099-K for third-party payments in 2022
The IRS on Tuesday shared recommendations for the impending tax period — which include a reminder about the new $600 threshold for receiving Kind 1099-K for third-occasion payments. The improve applies to payments from third-occasion networks, such as Venmo or PayPal, for transactions these as component-time operate, facet employment or offering merchandise, in accordance to the IRS. Prior to 2022, the federal Kind 1099-K reporting threshold was for taxpayers with much more than 200 transactions well worth an combination higher than $20,000. Nevertheless, Congress slashed the limit as section of the American Rescue Program Act of 2021, and a one transaction in excess of $600 could now cause the variety.…
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We must fix the perverse incentive in higher education. Here’s how.
A question we have had to question ourselves as Us residents, time and time once again, is why can’t an ground breaking, abundant country like the United States figure out how to provide economical, even absolutely free, higher education schooling? Initial, let’s focus on what “free” indicates. Like President Biden’s scholar personal loan forgiveness, which is seriously a transference of credit card debt to other taxpayers, free of charge faculty is a bit of a misnomer. When we consider of totally free college, we feel of free tuition to the college student, which presumably signifies faculty supported by the common taxpayer. I’d argue this is an excellent use of tax…
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