In this video we discuss a number of important topics to help you prepare for 2022 tax filing including:
- Relevant 1099 form changes
- Current and future IRS changes and how they could impact your business
- State reporting overview and updates to the 1099-NEC State Reporting Service
- Filing preparation best practices
Note: Since this content was published the IRS released guidance that the reduced $600 threshold for 1099-K reporting will be delayed until tax year 2023. As a result, the federal threshold for 1099-K reporting for tax year 2022 will remain unchanged at $20,000 and 200 transactions. For additional details see our blog on this late breaking change here.