Are You Prepared for the New 1099-K Thresholds?
The IRS has implemented a significant change to the income and transaction thresholds for reporting third-party payment income for this year. Prior to 2022, a Form 1099-K was issued for gross payments that exceeded $20,000 AND more than 200 transactions. For returns after 2021, a 1099-K will be issued for gross payments for goods or …
