![Name, Image, and Likeness (NIL) Income for College Athletes [DOWNLOAD]](https://kwaccountingsolutions.com/wp-content/uploads/2024/01/nil.png)
by Taxing Subjects | Jan 8, 2024 | Tax Tips and News
Name, Image, and Likeness (NIL) income, or income gained from personal brand influence, has opened opportunities for student-athletes in college athletics. With the additional income stream comes new tax implications, however, that many student-athletes have not...
by Taxing Subjects | Jan 5, 2024 | Tax Tips and News
The IRS has announced new penalty relief totaling around $1 billion to approximately 4.7 million individuals, businesses, and tax-exempt organizations. This relief is aimed at those who did not receive automated collection reminder notices during the pandemic, which...
by Taxing Subjects | Jan 4, 2024 | Tax Tips and News
The Internal Revenue Service updated and modified guidance surrounding an assortment of clean energy credits and other provisions over the closing days of 2023. Some of the changes will be in effect next tax season, while other alterations will not be realized for a...
by Taxing Subjects | Dec 8, 2023 | Tax Tips and News
In a recent announcement, the Internal Revenue Service (IRS) has decided to delay the implementation of the new $600 Form 1099-K reporting threshold for third-party payment organizations. The decision to treat 2023 as a transition year comes in response to feedback...
by Taxing Subjects | Nov 27, 2023 | Tax Tips and News
The IRS and its Security Summit partners from the national tax industry and state tax agencies announced the 8th annual National Tax Security Awareness Week, set to begin November 27. Protection of financial information and identity theft prevention are the focus of...
