The state-citizen-only tax dodge resurfaces in Kim v. United States, and the court dismisses it
2 min read
Tax Byte
Today, the IRS issued several new Frequently Asked Questions (FAQs) on Form 1099-K. As we informed you last week, the IRS announced in Notice 2023-10 that it is delaying for a year the implementation of the new, lower $600 reporting threshold for Form 1099-K.Â
NEW FAQS, WHO DIS?
As a relevant aside, note that the FAQs state that they have not been published in the Internal Revenue Bulletin, thus will not be relied upon or used by the IRS to resolve a case. In other words, while FAQs are certainly helpful, it’s important to remember the law surrounding taxpayers’ reliance on FAQs and subregulatory guidance in general, which is discussed more HERE.
That’s it. That’s the Byte.
STAY TUNED
Stay updated with more breaking tax-related developments by subscribing to Tax Bytes with Jessica Jeane, J.D.
Recent Stories
First-Time Penalty Abatement Is Being Replaced
August 25, 2026
Saver’s Match Replaces the Saver’s Credit in 2027
August 18, 2026
Next Up...
Your guide to earning the CMA, from the education and experience requirements to the two-part
6 min read
Employers can now fund Trump accounts up to $2,500 per employee tax-free. Proposed regs spell
7 min read