Business Resources to Help You and Your Employees
The Employee Retention Tax Credit Can Be Claimed Retroactively into '24 and '25
Paychex customers, including those using our ERTC Service, have received, on average, $185,000 in credit.
IRS Delays 1099-K Changes
The Internal Revenue Service has delayed changing the threshold for 1099-K reporting in the 2023 tax year. The IRS said they expected millions of tax forms to come out this year and wanted to reduce any potential confusion for businesses.
The 1099-K threshold for receiving payment through a third-party platform (e.g., PayPal and Venmo) will now be phased in over the next several tax years until 2025, when the IRS has noted the threshold will be $600.