The 1099-K form is a requirement for companies like ‘Venmo’ and ‘Etsy.’ It’s a law change that those with online businesses ...
Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require ...
Forms 1099, Volunteer Income Tax Assistance (VITA) programs, Form 1099-K relief, deducting taxes, tax filing deadlines, and ...
IRS has released updates on 2025 tax return filing and key updates about a new form called 1099-K: here are all the updates ...
The IRS is now requiring freelancers to report payments of $5,000 and up received via third-party apps like CashApp, PayPal, ...
But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.
The new requirement, which is being implemented after a two-year delay, applies to such P2P apps as PayPal, Venmo, and Block ...
The IRS said in a release issued on December 19: "There are a number of things taxpayers can do to get ready as the end of ...
As a result of this delay, TPSOs will not be required to report the tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount enacted as part of the ...
The IRS is rolling out a new 1099-K reporting rule for third-party payment apps, impacting freelancers and business owners.