Portland, OR, USA - Jan 5, 2022: Third-party payment apps now have to report transactions more than USD600 to the IRS. Taxpayers who engage in online sales may have dodged a reporting bullet in early ...
If you freelance, side hustle or sell products online, you're most likely familiar with the Form 1099-K. It's a form that specifically reports card payments and transactions from online platforms, ...
The House of Representatives and the Senate have both proposed changes in the reporting thresholds for Form 1099-K and Form 1099-NEC. The goal? Fewer forms for taxpayers. Republicans on the Senate ...
It's not the same old Lions now that a winning season is making it easy to resell game tickets at amazing prices far above the original value. But it’s the same old IRS play when it comes to handling ...
Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. More taxpayers will ...
Millions of Americans who sell goods online or use third-party platforms such as PayPal, Cash App or Venmo will soon face new tax reporting rules under changes introduced by the One Big Beautiful Bill ...
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Who must file the 1099-K form this 2025?
In the upcoming 2025 tax season, if you've received more than $5,000 in payments for goods or services via digital platforms like Stripe, Venmo, PayPal, or Cash App during 2024, you will be issued a ...
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When do I have to issue a 1099 form to someone I paid?
Knowing when to issue which kind of 1099 form to someone you paid money to can be a mystery to small business owners, but ...
The IRS will begin processing 2024 tax returns sometime during late January 2025. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who ...
Under a new federal law enacted in 2021 (the “American Rescue Plan” or the “New Law”), Venmo, Pay Pal, Cash App, Etsy, eBay and other e-commerce platforms are now required to send individual users ...
Will you recognize the Form 1099-K when you receive it from one or more third-party marketplace providers this year? A few years ago, the IRS implemented new reporting requirements for many popular ...
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