Listen to or watch the podcast on this subject: https://podcasts.dinesenmedia.com/show/information-return-intelligence/ CP2100 Season is Here! It’s that time of year when CP2100 letters will begin arriving. This article will cover what a recipient of such a letter should do. What is It? To understand CP2100 letters, we need to start at the start. Your organization files…
Listen to or watch the associated podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/new-online-ein-verification-and-second-b-notices-can-you-use-it/ The IRS has announced an enhancement to online Business Tax Accounts that allows businesses with such an account to download an EIN verification letter. The IRS says this letter can be used in place of Letter 147C. But can it be used in a B-Notice setting? I…
Listen to or watch the related podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/treasury-aligns-backup-withholding-with-new-1099-reporting-thresholds/ The Treasury Department recently released proposed regulations to update backup withholding thresholds to conform with the increased reporting thresholds for many 1099’able transactions. Background The One Big Beautiful Bill Act (OBBBA) changed sections 6041 and 6041A to increase the reporting threshold from our old, familiar $600 threshold…
