Delay for implementation of — 600 reporting threshold

Delay for implementation of — 600 reporting threshold

IRS Delays Implementation of $600 Reporting Threshold for Third-Party Payment Platforms’ Forms 1099-K The IRS announced a delay in reporting thresholds for third-party settlement organizations (TPSOs) set to take effect for the upcoming tax filing season. TPSOs will...
Business Mileage Rate Increase

Business Mileage Rate Increase

Tax Alert: Business Mileage Rate Increases for 2023 The IRS issued the optional standard mileage rates for calculating the deductible costs of operating a car for 2023. Starting January 1, 2023, the rates for using a car, van, pickup, or panel truck will be: 65.5...
The Tax Treatment of Cryptocurrency

The Tax Treatment of Cryptocurrency

​​The IRS  treats cryptocurrency as property, not money, and taxes it like a stock. Taxpayers must disclose gains and losses on investments in digital assets. Profits on assets held for more than a year are taxed at the long-term capital gains rate, now a top 23.8%,...
Leadership Diversity Can Improve Financial Outcomes

Leadership Diversity Can Improve Financial Outcomes

Board and executive diversity continue to be a top priority for many corporate directors and investors as diversity, equity, and inclusion (DEI) initiatives have been linked to improved company performance. McKinsey found in its research Diversity wins: How inclusion...