Tax Tips

1/10/2024 – IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K until 2024 tax year. The American Rescue Plan Act of 2021 significantly modified the reporting threshold associated with form 1099-K, Payment Card and Third-Party Network Transactions, from $20,000 AND more than 200 transactions per year down to annual …

Understanding Form 1099-K (Payment Card and Third-Party Network Transactions) Read More »

The IRS can be extremely difficult to communicate with by telephone.  You may navigate through a phone tree for 10-minutes before being informed by an automated recording that “We are unable to process your request at this time, please call back the next business day.”  After this recording you’ll hear a dial tone.  For taxpayers …

Portland’s IRS Taxpayer Assistance Center Read More »

In 2013, a Portland, Oregon man electronically filed at least 66 false tax returns requesting more than $300,000.  Since then, every tax season we see a growing number of Oregon taxpayers being selected for “Oregon manual processing”.  Typically, the most common reason the Oregon Department of Revenue puts a tax return under “manual processing” is …

Oregon Manual Processing Read More »

In May of 2020 voters in Portland approved a measure to raise money for people experiencing homelessness or at risk of experiencing homelessness.  The program assesses a 1% tax on all taxable income of more than $125,000 for individuals and $200,000 for couples filing jointly.  The program is also funded by a 1% tax on …

Metro Supportive Housing Services (SHS) Personal Income Tax Read More »

On November 3rd, 2020, Multnomah County voters approved a measure to establish a tuition-free preschool program.  The PFA program is designed to give 3 and 4 year-olds in Multnomah County access to “free, high-quality, developmentally appropriate, culturally responsive preschool experiences”. The PFA program is funded by a personal income tax of 1.5% on taxable income …

Multnomah County Preschool For All (PFA) Personal Income Tax Read More »