Navigating the complexities of tax reporting can be daunting, especially for freelancers and those with side hustles. The ...

Form 1099-K reporting requirements have created a lot of confusion, and it's understandable why. Many of those sellers haven’t received 1099-Ks before, so understanding the new rules is ...

Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require ...

This is accomplished by following the steps for reporting Form 1099-K payments described in the instructions ... for a transition period. So, for the 2022 and 2023 tax years, the old threshold ...

Why was the IRS's 1099-K tax rule delayed? Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require third-party payment apps ...

For 2023 (the federal income tax returns you’ll file in early 2024), a much higher $20,000/200 transaction 1099-K reporting threshold applies as it did for the 2022 tax year. The IRS plans to ...

A new survey found that gig workers, or freelancers, aren’t prepared for the lower threshold for 1099-K income reporting, which could result in a higher tax bill, CPA Practice Advisor reports.

To report the payment, if you are in business and the payments during the year reach $600, you’ll need to issue them an IRS Form 1099. Whatever the type or amount of crypto you use, the IRS will ...