Tax Facts

IRS Once Again Delays $600 1099-K Reporting Threshold Effective Date

The IRS has granted another extension with respect to the reduced 1099-K reporting threshold.  2024 and 2025 will now be treated as transition years.  During 2024, third-party settlement organizations like Venmo, StubHub, Airbnb and PayPal will be required to report if the total payments received...

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