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Taxbyte

Payment Platforms Start Backup Withholding Only After a Seller Crosses Both 1099-K Thresholds (T.D. 10053)

2 min read
T.D. 10053 says payment platforms backup withhold only after a seller tops $20,000 and 200 transactions and a TIN is missing. See the rules.

Recent Taxbytes

Storm Damage Loss Swamped and Sunk for Lack of Appraisals or Other Proof of Loss (Thomas Richey and Maureen Cleary v. Comm., TCM 2023-43)

9 min read

Thomas Richey and Maureen Cleary owned a home and a boat in March 2017, when

DOL Updates Exemptions For Executive, Administrative, Professional, Outside Sales, And Computer Employees

3 min read

The Department of Labor final rule Defining and Delimiting the Exemptions for Executive, Administrative, Professional,

The Fact and Fiction of the “Self Employment Tax Credit”

10 min read

Move over, ERC: there’s another social media craze gaining steam. The IRS has issued an

GPS Tracker Doesn’t Work Alone to Get Deduction for Tax Preparer (Patricia Chappell v. Comm., TCS 2024-2)

9 min read

Patricia Chappell used MileIQ to track her location from March 23 to December 15, 2015.

Used Car Salesman Sells Judge on Cohan Rule (Jesse Alvarado and Estate of Maria De Lourdes Velasques v. Comm., TCM 2024-1)

9 min read

After 25 years as a commercial lender at Comerica Bank, Mr. Alvarado opened South Bay

Unreported Income, Unsubstantiated Deductions, Late Filing – Three Strikes and Taxpayer Loses (Paulette Thompson and Johnnie Thompson v. Comm., TCM 2024-14)

9 min read

The Thompsons earned income from farming operations raising and selling cattle, chickens, eggs, and turkeys.

IRS Explains the Employer-Provided Childcare Tax Credit on New IRS.gov Page (IR-2024-34)

9 min read

IRS has provided several plain language explanations on claiming the employer-provided childcare credit (§45F). An

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