Learn about the latest State and Federal Tax Updates, Accounting, and Industry News
News & Information
IRS Online Account
The IRS has an online tool that lets you check the details about your federal taxes, including balance owed, payment history, tax records, and more.
The One, Big, Beautiful Bill (OBBB) retroactively reinstated the reporting threshold in effect prior to the passage of the American Rescue Plan Act of 2021 (ARPA) so that a third party settlement organization (TPSO) is not required to file a Form 1099-K unless the gross amount of reportable payment transactions to a payee exceeds $20,000 and the number of transactions exceeds 200.
Virginia’s Consumer Data Protection Act (VCDPA)
The VCDPA also provides consumers with certain rights related to their personal data. Under the Act, these rights include:
1. The right to know, access and confirm personal data.
2. The right to delete personal data.
3. The right to correct inaccuracies in personal data.
4. The right to data portability (i.e., easy, portable access to all pieces of personal data held by a company).
5. The right to opt out of the processing of personal data for targeted advertising purposes.
6. The right to opt out of the sale of personal data.
7. The right to opt out of profiling based upon personal data.
8. The right to not be discriminated against for exercising any of the foregoing rights.
California Consumer Privacy Act of 2018 (CCPA)
The right to know about the personal information a business collects about them and how it is used and shared.
• The right to delete personal information collected from them (with some exceptions).
• The right to opt-out of the sale of their personal information; and
• The right to non-discrimination for exercising their CCPA rights.
*To be replaced with the California Privacy Rights Act (CPRA) effective 2023
For more information visit: California Consumer Privacy Act (CCPA)
