
Created: Monday, December 16, 2024
Lowered 1099-K Reporting Threshold Being Phased-In
In another turn of events, the IRS has made a change to the adoption of the new Form 1099-K reporting guidelines. The 1099-K is generally issued for “reportable payment transactions” made through such “payment settlement entities” such as Venmo, PayPal, and other third-party settlement organization (TPSO) transactions.