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IRS Revenue Procedure 2024-13

February 7, 2024 This revenue procedure provides: (1) two tables of limitations on depreciation deductions for owners of passenger automobiles placed in service by the taxpayer during calendar year 2024; and (2) a table of dollar amounts that must be used to determine income inclusions by lessees of passenger automobiles with a lease term beginning in calendar year 2024.

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IRS Revises and Updates Form 1099-K FAQs

February 6, 2024 In an effort to provide more resources for taxpayers during this filing season, the IRS recently revised frequently asked questions for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet 2024-03.

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