- Membership
- Certification
- Events
- Community
- About
- Help
IRS threshold for Third Party Settlement Organizations
November 19, 2024
Q. Please confirm the IRS reporting threshold for TPSOs for tax year 2024. There was discussion of a reduction in the threshold from 200 transactions and $20,000 to $5,000 and 1 transaction for tax year 2024, with tax year 2024 being a transitional year to a lower threshold of $600 and 1 transaction post tax year 2024. Did this change in threshold pass for tax year 2024, or does the threshold remain at 200 transaction and 20,000 for tax year 2024 for TPSOs?
A.
(Answered by IOFM's third-party…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
