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The SECURE Act 2.0 was signed into law by President Biden on December 29, 2022. Included as part of the Consolidated Appropriations Act of 2023, it provides additional retirement savings reforms designed to expand access to and increase participation in workplace retirement plans
In the past, individuals and businesses would only receive a 1099-K form under certain circumstances. This includes when there were over 200 transactions or gross payments totaling more than $20,000 received through payment apps or credit card processors.
It is that time of year again for businesses to put together their tax filing and payment plans.
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