5 updates tagged obbba.
Under the One Big Beautiful Bill Act, beginning with tax year 2026 employers must separately report qualified tips and qualified overtime on Form W-2 so employees can claim the new…
Under the One Big Beautiful Bill Act, the Form 1099-NEC and 1099-MISC reporting threshold rises from $600 to $2,000 for payments made in 2026, its first change since the 1950s, and…
The One Big Beautiful Bill Act makes the 20% qualified business income (QBI) deduction permanent starting in 2026, ending its scheduled 2025 expiration. It also widens the phase-ou…
Effective January 1, 2026, the One Big Beautiful Bill Act increases the employer-provided childcare credit to 40% of childcare costs with a maximum credit of $500,000, up from $150…
Under OBBBA the Form 1099-K reporting threshold for third-party payment platforms (Stripe, PayPal, Square, marketplaces) reverts to more than $20,000 in gross payments AND more tha…