1099-K reporting threshold update for platforms/payment processors
The IRS’s ongoing “Tax updates and news” confirms current information reporting updates. Platforms should align Form 1099-K filings with the reinstated higher thresholds. They should also monitor IRS administrative guidance for 2025 filings.
Quarterly federal interest rates (Q1 2026)
For Jan–Mar 2026, underpayment interest is 7% (large corporate underpayment is 9%). Meanwhile, corporate overpayment is 6%, with non-corporate overpayment at 7%. Use these rates when computing interest on balances due or refunds.
Employee Retention Credit (ERC) claim timing/administration
The IRS highlights that ERC claims generally cannot be filed after April 15, 2025. Businesses should review eligibility and consider claim withdrawal if necessary per IRS guidance.
State sales tax on commercial rent repealed (effective Oct. 1, 2025)
https://floridarevenue.com/Pages/default.aspx
Employer HSA/HDHP plan design updates
For plan years beginning after 2024, telehealth/remote care can be disregarded coverage without disqualifying HSA eligibility. Certain preventive care and insulin safe harbors are clarified. Employers should update plan communication and Form 8889 instructions for employees.
Florida Business Highlights
Clean energy and vehicle credits affecting businesses
https://www.irs.gov/
OBBBA includes technical adjustments and continued availability of 100% bonus depreciation for certain qualified property. Special election rules are applicable to 2025 property. Review relevant §168(k) changes and placement-in-service timing under OBBBA.
