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Disagree. If you make payments to a vendor via CC or Payment App, the CC company is supposed to send the 1099K and you do not send a 1099NEC or 1099MISC. That was made clear earlier this year. The IRS does not want double reporting of payments made by CC. If the church does not want to file 1099s, then pay everything to vendors eligible for 1099s via CC. Tom Longview, TX

The W9 should answer that question if the vendor filled it out correctly. In box 3 on Form W9, if they check LLC, then they are supposed to tell you how the LLC is taxed in the area to the right by putting in a "C" "S" or "P". My rule of thumb has been if they don't fill it out correctly, they get a 1099. Tom Longview, TX

Example; You receive a bill for $10,000 with a breakdown of Equipment - $7,000, Installation Supplies - $250, and Installation - $2,750. You send out a 1099 NEC for $10,000. The recipient deducts their cost for the equipment and supplies in COGS .

The only way to know is to require a W 9 be filled out.

From my perspective, payroll is easy compared to income tax reporting... There are some, to me, seriously broken parts of payroll, such as the increasing number of tax agencies profiting via required "retirement" or other "helpful" deductions (they contract out the back end processing and keep a cut as profit). The lack of common rules with items affecting all states, such as minimum time in local to trigger nexus. But, there are many families whose living depends on a tax agency having an office to set and monitor rules - process returns etc. - so the likelihood of a tax agency making thing easier is nil. I saw an article about a non US jurisdiction where the tax agency monitors income and adjusts withholding on the fly so there is no need for tax returns. How would that go over here, let alone across the US? I struggle with this issue whenever I think about it, as simplicity has merit, but will never happen because complication leads to jobs, and opportunity to believe one is paying less tax than required. (I often wonder if there was no opportunity to believe we beat the system, we would not care if the system was made simple.)

The 2023 version is available for free download now.

I can only imagine it was a weird caching issue. Even if you omit the 's' from https:// the site should redirect you to the secure version.

After doing some reading, I am wrong. You can also add Debit Cards to to Credit Cards. What will be interesting is that Zelle claims they do not have to file any 1099 Ks because they are a different type of financial entity.

Back at my desktop now, and the site address that I use is this one: https://www.atxcommunity.com/ Definitely has the lock and shows as secure. Are you using an old bookmark?

I subscribe to RIA Checkpoint Learning 'Premier Package" which allows access to hundreds of webinars and self-study courses for an annual rate of about $300. A great value for quality courses. Oregon CPAs are required to report 80 hours every two years. You must take at least 24 hours a year. 20 hours of carryover are allowed but cannot be applied to the 24 per year minimum. Also must include 4 hours of ethics which come with the RIA package.

From my heart to all of yours, have a wonderful New Year!!!

+ 2 CEs of Ethics EVERY year for EAs. But I hear that the OPR or whichever department renews our EA designation is understanding about illness (COVID seems to be reasonable cause for most things) and one-time errors -- if you contact them and make-up any shortage immediately. Also, if you're an NAEA member, you need 30 CEs per year, IIRC.

Unfortunately, I can't quite work up an entire year ahead just in case. As an EA, IRS requires that I have at least 16 hours each year, and 72 in the three year cycle. But working some hours ahead is a great plan to be prepared.

There's so much free CPE available that years ago I took over 80 hours one year. 40 for the current year, 40 to carry over into the next year. I've taken at least 40 each year since then so I still have the 40 carryover. If I suffer a minor tragedy and am unable to take CPE for a year, I'm still good to go.

It only matters on the year that your license ends. Two days ago, while renewing my PTIN, I saw that I have to renew my license in March 2023, which I completely forgot. I panicked because this year I had only 18 credits. In my head, I said... "I am short if every year I have don't the minimum requirement". Luckily, on that website they have my CPE credits and I had a lot in one year so I had exactly 72 credits. I am happy you noticed it now because 48 hours later, it would be too late. Everybody, please double check if your license expires in March, so you still have time to pass the CPE exams.

The IRS now explicitly agrees that personal gains are reported on Form 8949 and personal losses from Form 1099-K are reported and backed out on Schedule 1. See https://www.irs.gov/businesses/understanding-your-form-1099-k (the section on personal income). The same applies to an incorrect Form 1099-K. The Form 1040 instructions have also been updated. See the instructions for Schedule 1, lines 8z and 24z. Briefly:

The delay means we have time to educate our clients on the required record keeping. Dates of purchase and sale, original and sales prices, etc. We may stick a brief paragraph in our client letter. The purpose of this provision was to narrow the tax gap--a laudable goal. The law was passed months ago so I don't understand why it's suddenly too confusing to implement on time. The IRS is usually pretty good about publicizing changes, but I did not see much info released on the 1099K. Congress did not change the law, so IRS used its own authority to delay implementation. Maybe because they're now in the hot seat for failing to audit a certain person's returns that they were required to audit? Now they've given people who make plenty of money selling used goods they bought at yard sales and flea markets time to switch from accepting electronic payments to cash only.

In early November, I figured how much CPE I needed for the year. And proceeded to get that much CPE. But when renewing my license…I’m 14 hours short. Can I no longer subtract? Should I be doing taxes? so anyways, I’m working on completing a self study course by tomorrow. I hate self study because I’m a great procrastinator. Oh well, back to the grind…