Treasury Halts Corporate Transparency Act Enforcement; IRS Tightens Grip on Side Hustle Income

In today's episode, we delve into the U.S. Treasury's decision to suspend enforcement of the Corporate Transparency Act, a move that could reshape the regulatory landscape for domestic businesses. We also explore the IRS's new stringent rules targeting unreported income from side hustles, including a significant reduction in the 1099-K threshold. Plus, we preview the Fourth International Conference on Financing for Development, set to address global financial challenges and sustainable development goals. Join us for these stories and more on Simply News Radio. Sources: https://tax.thomsonreuters.com/blog/corporate-transparency-act-enforcement-suspended/ https://www.acaglobal.com/insights/treasury-suspends-enforcement-corporate-transparency-act-us-companies https://www.davispolk.com/insights/client-update/treasury-suspends-enforcement-cta-and-boi-reporting-rule-against-us https://www.woodsaitken.com/corporate-transparency-act-enforcement-suspended-us-treasury https://www.icij.org/inside-icij/2025/03/treasury-department-wont-enforce-beneficial-ownership-rule-under-the-corporate-transparency-act/ https://www.srz.com/en/news_and_insights/alerts/corporate-transparency-act-update-penalties-paused-and-significant-reduction-in-scope-expected-in-forthcoming-rulemaking https://www.clarkhill.com/news-events/news/cta-reporting-and-enforcement-suspended-indefinitely/ https://www.michamber.com/news/treasury-department-announces-suspension-of-enforcement-of-corporate-transparency-act-against-u-s-citizens-domestic-reporting-companies/ https://www.jdsupra.com/legalnews/treasury-department-announces-5869504/ https://www.mcglinchey.com/insights/boi-reporting-penalties-suspended-no-need-to-file-not-so-fast/ https://www.jdsupra.com/legalnews/treasury-department-announces-5043077/ https://community.thomsonreuters.com/tax-accounting/f/tax-research-guidance/32503/corporate-transparency-act-enforcement-suspended-what-tax-and-accounting-professionals-need-to-know https://www.hklaw.com/en/insights/publications/2025/03/treasury-department-announcement-on-enforcement-and-scope-of-corporate https://therealwv.com/2025/03/10/sos-kris-warner-announces-suspension-of-corporate-transparency-act/ https://www.sidley.com/en/insights/newsupdates/2025/03/us-treasury-will-not-enforce-corporate-transparency-act-against-us-citizens-or-domestic-companies https://www.jdsupra.com/legalnews/cta-reporting-and-enforcement-suspended-2140408/ https://www.foley.com/insights/publications/2025/03/treasury-department-announces-suspension-enforcement-corporate-transparency-act/ https://www.hancocklaw.com/publications/corporate-legal-alert-corporate-transparency-act-update-treasury-department-announces-suspension-of-enforcement-of-corporate-transparency-act-against-u-s-citizens-and-domestic-reporting-companies/ https://hermoney.com/earn/side-hustles/pay-taxes-on-side-gig-income/ https://smartasset.com/taxes/how-to-avoid-paying-taxes-on-side-jobs https://abc7news.com/post/taxes-2025-7-side-tax-experts-answer-viewer-questions-new-deductions-filing-deadlines-more/15889835/ https://theaccountingdoctor.com/what-triggers-an-irs-audit-red-flags-how-to-avoid-them/ https://www.businessinsider.com/personal-finance/taxes/what-payment-apps-report-to-the-irs https://www.crowdfundinsider.com/2025/03/237051-the-senates-rejection-of-the-irs-defi-broker-rule-might-be-a-step-forward-for-crypto-industry/ https://www.whatcomabc.org/money-management/taxes/ https://www.filelater.com/articles/top-tax-tips-for-part-time-workers-in-2025/ https://www.supremecourt.gov/DocketPDF/24/24-304/351335/20250305163321189_Labcorp%20Joint%20Appendix%20-%20Volume%20II.pdf https://home.treasury.gov/news/press-releases https://www.youtube.com/watch?v=iW-v_SHNY1o https://www.govinfo.gov/content/pkg/FR-2025-03-07/pdf/FR-2025-03-07.pdf https://www.youtube.com/watch?v=Q3-_cYyu6-A https://www.irs.gov/newsroom/irs-direct-file-a-free-easy-and-secure-way-to-prepare-and-file-2024-taxes-online https://www.govinfo.gov/content/pkg/CREC-2025-03-05/pdf/CREC-2025-03-05.pdf https://lendedu.com/blog/cash-app-taxes/ https://www.irs.gov/newsroom/irs-dont-overlook-free-options-for-preparing-and-filing-taxes-in-2025-direct-file-available-in-25-states https://www.taxslayer.com/blog/cheapest-way-to-file-taxes-online/ https://www.jurishour.in/direct-tax/it-notice-high-expenses-bank-withdrawals/ https://www.filelater.com/articles/side-hustle-taxes-manage-your-self-employment-dues/ https://financing.desa.un.org/sites/default/files/2025-03/FFD4%20Outcome%20First%20Draft.pdf https://www.globalpolicy.org/en/news/2025-03-05/rocky-start-south-african-g20-presidency https://unsouthsouth.org/category/news/ https://financing.desa.un.org/ffd4/sideeventsinfo https://sdg.iisd.org/news/beyond-gdp-integrating-new-approaches-in-global-frameworks/ https://social.desa.un.org/sites/default/files/inline-files/WSSD2%20Food%20for%20Thoughts%202025%20V07.03.25%20.pdf https://g20.org/news/multilateralism-can-and-must-deliver/ https://www.g77.org/nc/ https://unesdoc.unesco.org/ark:/48223/pf0000393008 https://apwld.org/third-preparatory-committee-prepcom-for-the-fourth-international-conference-on-financing-for-development-ffd4/ https://libraryresources.unog.ch/conferenceprimers/sustainabledevelopmentgoals https://unctad.org/meeting/side-event-14th-debt-conference-united-nations-framework-convention-sovereign-debt-solution https://www.eurodad.org/jubilee-2025-get-involved https://www.downtoearth.org.in/climate-change/experts-call-for-real-change-at-upcoming-un-conference-on-financing-for-development https://www.gesi.org/events/2025-06-30/ https://taxjusticeafrica.net/resources/blog/road-seville-reflections-drm-section-zero-draft-ffd4-outcome-document https://reliefweb.int/report/world/global-south-perspectives-us-development-assistance-changes-and-future-directions