After hearing feedback from taxpayers, tax professionals and payment processors, and to reduce taxpayer confusion, the IRS issued Notice 2023-74 last November to delay the new $600 Form 1099-K ...

Since the IRS is delaying implementation of the new reporting threshold by one year, payment apps will send 1099-K forms to taxpayers who made at least $600 in 2023 rather than 2022.

As a result, the IRS says third-party settlement organizations will not have to report tax year 2022 transactions on a Form 1099-K, Payment Card and Third Party Network Transactions, to the IRS or the ...

IRS delays gig-tax filing rule for side hustles earning at least $600. 2022 1099-K reporting limits revert to $20,000 on 200 transactions.

The IRS will have much less of a view into how much income small businesses and independent contractors make because there ...

The IRS responded that they can report the offsetting entries on Schedule 1, lines 8z and 24z, for each Form 1099-K they received separately, or they can combine the Forms 1099-K they've received. The ...

Those who received unemployment benefits in 2021 need the 1099-G to file state and federal taxes. The tax forms can be accessed by logging into MiWAM, navigating to the “I want to” heading and ...

Request copies of key documents: Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for the years 2021, 2022 or 2023 can request copies from their employer, bank or other payers.

Venmo, PayPal and other payment apps won’t be required to send 1099-K forms to anyone who earned at least $600 in 2022, the IRS said. Skip Navigation Share on Facebook ...

Venmo, PayPal and other payment apps won’t be required to send 1099-K forms to anyone who earned at least $600 in 2022, the IRS said. Skip Navigation Share on Facebook ...

Venmo, PayPal and other payment apps won’t be required to send 1099-K forms to anyone who earned at least $600 in 2022, the IRS said. Skip Navigation Share on Facebook ...