66 reactions · 16 shares | A new tax form may be coming to your mailbox this year. President and CEO of our sponsor TaxAct explains what you need to know about form 1099-K. | Good Morning America | Facebook

The start of tax season is around the corner, and filing for 2022 taxes will be different for millions of Americans with the updated 1099-K form. The form was first issued in 2012 as it reports taxable income for goods sold through third-party settlement organizations – a fancy term for apps such as Venmo, PayPal, and CashApp that are used to transfer money. READ MORE: https://www.turnto23.com/news/national/what-you-need-to-know-about-the-updated-1099-k-tax-form | 23ABC Bakersfield

If you were paid at least $600 through third-party payment apps, like Venmo or Zelle, you'll now have to report those earnings to the IRS. Full story: https://bit.ly/3VDTWOp #IRS1099 #TaxSeason #IRSReporting | NewsNation

The IRS just announced they are delaying the 1099-K reporting threshold reduction for tax year 2022. If you got paid through payment apps like PayPal, Etsy, or Ticketmaster, learn more here: https://intuit.me/3HZ7XSE | Intuit TurboTax