Client Planning for the 1099-K Explosion
- Registration Closed
Prepare yourself for the client talk on the reduced filing requirement for the filing of Form 1099-K effective for tax year 2023, we’re expecting to see many more Forms 1099-K than ever before. Taxpayers may receive 1099-Ks not just for their trade or business, but also for hobby income, one-off activities such as the sale of personal items online, and possibly for purely personal expenses as well. Tax practitioners will need to understand how to report the various types of income reported, as well as how to make adjustments on the tax return to both satisfy IRS matching software and ensure the income is properly recorded.
At the end of this course, you will be able to:
- Explain the information reported on the Form 1099-K
- Nominee the 1099-K income to another person, business, or entity
- Differentiate business income from hobby income
- Report sales of personal property reported on Form 1099-K
NASBA CE: 2.0 Hours Federal Tax Law
IRS: 2.0 Hours Federal Tax Law
CTEC CE: 2.0 Hours Federal Tax Law
ACAT CE: 2.0 Hours Federal Tax Law
NSA Webinar Program Level: Basic
Advance Preparation: None
Delivery Method: Group-Internet Based
No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program cancellation policies, please contact NSA toll-free at 800-966-6679.
NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.
Amy M. Wall, EA, MBA
Amy M. Wall, EA, MBA, is recently retired from her private tax practice in Tucson, Arizona, where she worked with individuals, small businesses and S Corporations. Amy now spends her time teaching and writing on taxation. She teaches for several continuing education providers and has been published in a number of tax journals, including NATP’s Tax Pro Journal and Wolters Kluwer Journal of Tax Practice & Procedure. She is the author of Virtual Tax: the taxation of Cryptocurrency; Income Taxes for Real Estate Agents; Divorce and Taxes, and The Parish, a work of fiction about a tax preparer whose nighttime clients aren’t quite what they seem.