SELLING ONLINE CHANGES AGAIN

Once again the IRS has delayed the reporting for taxpayers selling goods online. The threshold was set at $600 and was to begin for tax year 2023. That means almost anything you sell online and collect over $600 TOTAL in a year would be subject to reporting and taxes. YIKES. They have delayed this and changed the total that meets the reporting requirement. Please contact us if you have any questions about what this means for you and if you might get an unwanted tax bill.