IMPORTANT: - This is a critical update that affects 1099 Pro Service Bureau Direct State Filing for 1099-NEC 2022.
- 1099-K threshold
- In late December 2022 the IRS released guidance that the implementation of the reduced $600 threshold for 1099-K reporting will be delayed until tax year 2023. As a result, the federal threshold for the 1099-K reporting for tax year 2022 will remain unchanged at $20,000 and 200 transactions.
- The below items will bec oming in a future release and in accordance with IRS/SSA/State/Territory deadlines.
- Puerto Rico 480 series efiling.
- 1095 ACA filing.
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