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Release Notes
Note: This is the early release for tax year 2023.
New and improved:
- We updated all 2023 tax forms and instructions with IRS changes.
- We updated all business rules and custom queries for 2023 form fields.
- We added all 2023 sample import files and Excel data shells.
- We updated all reports for 2023 tax form changes.
- We updated all help files for 2023.
Form changes:
- 1099-K
- The reporting threshold has been lowered from $20,000 to $600 in payments, with no transaction limit. This change was signaled last tax year but was deferred, it will be in effect for tax year 2023.
- 1099-PATR
- The Continuous Use and instructions have been updated to remove references to specific years.
- Box 12 has been updated to include sustainable aviation fuel mixture credit.
- Form 5498
- The tax year has been updated on the form and instructions.
- For Box 1, the threshold to report IRA contributions other than amounts reported in specified boxes has increased from amounts exceeding $6,000 for individuals under 50 and $7,000 for participants 50 or older - to - $6,500 for individuals under 50 and $7,500 for participants 50 or older.
- For more details, read the 2023 Instructions.
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