Businesses, including many online sellers, must register with the US Treasury’s Financial Crimes Enforcement Network (FinCEN) soon or face significant fines due to the bipartisan Corporate Transparency Act (CTA) passed at the end of the last administration. (See update below.) Read more
The White House believes Americans should be able receive customer service on their terms and their own time without significant hassle or hardship. “If you want to talk to a human, you should be able to talk to a human Read more
Two months ago, The Information reported on how overseas companies were taking advantage of high de minimis rates to ship packages directly to US consumers without having to collect duties. This week, the publication reported that the US was cracking Read more
Sellers of all sizes who host their shops on Shopify can now use Avalara’s services to manage and automate global tax compliance seamlessly. Avalara has been providing tax calculation services for Shopify Plus customers since 2015 and has now joined Read more
Etsy said it is required to report information about UK-based sellers’ 2024 sales to the UK tax agency HM Revenue and Customs (HMRC) next January. In its post published on the Seller Announcement board on Friday, Etsy wrote: “Digital platforms Read more
eBay published a “Tax Information Center for eBay Sellers” last year in conjunction with TaxAct, and on Friday, it announced it would publish the information center again this year. It also promoted the TaxAct service to sellers in the announcement: Read more
Etsy advised sellers to prepare for tax season, including reminding them to update account information if necessary. In its announcement on Tuesday, Etsy pointed to its informational post from November about IRS Form 1099-K, where it said it was required Read more
Etsy offered a glimpse into the backend of its sales-tax collection practices, explaining that more jurisdictions are now requiring marketplaces to collect the tax from buyers and remit the tax to the relevant authorities. Etsy uses a third-party service called Read more
The IRS announced today another reprieve for taxpayers, delaying implementation of a new reporting threshold for third-party platform payments in 2023. The IRS also said it would phase in the new 1099-K threshold amount for tax year 2024. That means Read more
Etsy reminded sellers last week that they may receive a 1099-K form in the New Year for 2023 since it’s required by law to report sales amounts to the IRS for any seller who made more than $600 in gross Read more
