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Late last year, the IRS announced it would delay the new $600 Form 1099-K reporting threshold, but there's still a lot of confusion. In response, the IRS issued FAQs.
The IRS announced that it would delay the new $600 Form 1099-K reporting threshold for third-party settlement organizations for 2023.
It didn’t take long after the IRS announced an additional delay in enforcing the new $600 reporting threshold for Forms 1099-K to garner reactions.
There is a big change coming to the U.S. tax code in 2023 that will affect just about anyone who uses the Internet to make a little, or a lot, of pocket money.
Why using Venmo or Paypal could create tax headaches in the coming weeks. A new change for 2022 means money-exchanging apps need to report more activity to the IRS.