The new 1099-K tax reporting rule only applies to income you earned from third-party payment apps. The IRS is not taxing the money you send to your friends or family.

The IRS announced a delay in the 1099-K reporting threshold. Lisa Greene-Lewis, CPA and TurboTax tax expert, explains what you need to know for your 2022 taxes.

The IRS will have much less of a view into how much income small businesses and independent contractors make because there will be much less third-party reporting required under Trump’s new law.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

Form 1099-K is an annual report of payment received by an individual from payment cards (credit, debit or stored value cards such as gift cards) and payment apps or online marketplaces (Venmo, etc.).

The IRS again delays law that would have required Ticketmaster, Venmo, and others to issue 1099-Ks to those with more than $600 in revenue in 2023.

Congress may decide to put the 1099-K requirement somewhere in between the old and new thresholds in an extenders package. "Another thing they might choose to do is come to some middle number between ...

The new — and significantly lower — filing threshold for 1099-Ks promulgated by the American Rescue Plan Act of 2021 could have been effective at the beginning of 2023, but was delayed a year by ...

In the American Rescue Plan Act of 2021, Congress lowered the minimum reporting threshold from $20,000 to $600 for filing information returns relating ...

IRS delays gig-tax filing rule for side hustles earning at least $600. 2022 1099-K reporting limits revert to $20,000 on 200 transactions.

The version of the Republican megabill passed by the House last month includes a provision that ends an effort to get 1099-K ...