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What’s New for Tax Year 2023

Lizeth George1 min read4 months ago

E-filing returns: The Taxpayer First Act of 2019 authorized the Department of the Treasury and the IRS to issue regulations that reduce the 250-return e-file threshold. TD 9972, published February 23, 2023, lowered the e-file threshold to 10 (calculated by aggregating all information returns), effective for information returns required to be filed on or after January 1, 2024. Go to IRS.gov/InfoReturn for e-file options.

Future Developments: For the latest information about developments related to the General Instructions for Certain Information Returns after they were published, go to General Instructions for Certain Information Returns at IRS.gov/ 1099GeneralInstructions.

For more information, contact Compliance & Risk Management.

Written by
Lizeth George
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The League of Southeastern Credit Unions & Affiliates represents 302 credit unions in Alabama, Florida and Georgia, with a combined total of $175 billion in assets and more than 11.6 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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