Tax Resolution Attorney John P. Willis Provides Reminders About Scams Prevalent During Holidays Along With A Tax Prep Tip For People Who May Receive Form 1099-K.
Tax resolution attorney John Willis, CEO, and founder of IRSALLSTAR, reminds readers to be alert to scammers who try to catch people off-guard during the holidays and he alerts taxpayers who get paid through third party platforms to be on the lookout for form 1099-K.
Fairhope, AL, December 12 2022: Tax Attorney John Willis, CEO, and founder of IRSALLSTAR.com, recently published an article on his website entitled “Year-End Tax Scam And Tax Prep Alerts,” in which Mr. Willis attempts to raise awareness in hopes of helping his readers fully enjoy the holiday season.
As Willis notes, “The 7th National Tax Security Awareness Week kicked off on November 28th during which the IRS released information urging everyone to be aware of holiday scams and to protect their personal information. A couple of the most popular and productive scams were mentioned.”
According to the IRS, Willis reports, “Ranking as the most popular holiday scan is one in which scammers ask taxpayers to pay fake tax bills using gift cards. It’s not just taxes they use as ploys either.” He adds, “The scammers also frequently use a compromised email account to request gift card purchases for family and friends.”
Willis mentions other scams before turning his attention to form 1099-K, about which he writes, “Many taxpayers may be in for a bit of a surprise. With the popularity of Venmo, PayPal, Amazon and Square payment platforms used to buy and sell products and services, many times as side gigs, the IRS finally decided to step in to get a piece of the action.”
As Willis notes, if anyone was paid $600 or more, they will likely receive form 1099-K from the IRS. This, Willis informs his readers is “due to a changed tax reporting rule.” According to Willis, “In prior years, there was a $20,000 threshold, and/or more than 200 business transactions in a year that triggered the 1099-K form. Now, because of changes made under the American Rescue Plan Act, anyone with transactions that exceed the much lower $600 threshold amount (with no minimum number of transactions) in a year will likely receive a Form 1099-K from their third-party payment network. So,” he adds, “for example, under the changed rule, a single transaction for goods and services, that exceeds $600, could trigger the 1099-K.”
The entire article can be read at: LINK HERE
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 23 years and he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities.
To learn more about Mr. Willis and his law firm please visit http://irsallstar.com or call toll-free 877-254-4254.