Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during ...

The Form 1099-K is meant to report income from payment apps (like Venmo or Paypal), as well as from online marketplaces or ...

Millions more taxpayers will be receiving the Form 1099-K in the mail this year for the first time if they were paid $5,000 ...

Last year, the Internal Revenue Service announced a phased rollout of reporting requirements for businesses who receive at ...

Direct File is a web-based service that works on mobile phones, laptops, tablets or desktop computers. It guides taxpayers ...

Your prior year return will give you a good starting point for figuring out what documents you need to have handy to fill out ...

But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.

The law will not affect the amount of taxes owed, but it will change how you report income with 1099-K forms. Those who received more than $5,000 in payments for goods and services through an ...

You would have to have pushed above that $5,000 threshold in 2024 to receive a 1099-K for this tax season. The American Rescue Plan Act of 2021 revamped reporting requirements for third-party ...

The law will not affect the amount of taxes owed, but it will change how you report income with 1099-K forms. Those who received more than $5,000 in payments for goods and services through an ...