As February ends here are some things and stuff that I thought were interesting; maybe even useful if I’m lucky.
The Internal Revenue Service has revised its frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions. https://www.irs.gov/pub/taxpros/fs-2024-03.pdf
The Internal Revenue Service shares seven warning signs your Employee Retention Credit claim may be incorrect. https://www.irs.gov/newsroom/irs-shares-7-warning-signs-employee-retention-credit-claims-may-be-incorrect-urges-businesses-to-revisit-eligibility-resolve-issues-now-before-march-22
New side hustle poster is available for all you collectors out there. https://www.irs.gov/pub/irs-pdf/p5731b.pdf
S-corporation (1120S) and Partnership (1065) returns or extensions (7004) are due on March 15th.
How to improve your finances in 24 hours. https://www.letsmakeaplan.org/financial-topics/articles/budgeting/how-to-improve-your-finances-in-24-hours
Colorado refundable credit notice requirement. https://tax.colorado.gov/sites/tax/files/documents/DR0995_2023.pdf
The Financial Crimes Enforcement Network (FinCEN) will not use “gotcha enforcement actions” against small businesses when it finds errors in reports of beneficial ownership information (BOI), the network’s director told a congressional committee on Wednesday. https://www.thetaxadviser.com/news/2024/feb/no-gotcha-enforcement-of-boi-regulations-fincen-chief-vows.html
The Department of Justice (DOJ) and the Internal Revenue Service (IRS) are prosecuting digital asset crimes. https://www.bakerlaw.com/insights/no-further-warnings-prosecutors-bring-first-pure-legal-digital-asset-tax-indictment-more-criminal-cases-to-come/
Dolly Parton’s Imagination Library gives out one-millionth book in Colorado. https://www.colorado.gov/governor/news/governor-polis-hands-out-dolly-parton-imagination-librarys-one-millionth-book-colorado-signs