![]() ![]() Per the IRS, this means that for tax year 2022 the existing 1099-K reporting threshold of $20,000 in payments from over 200 transactions will remain in effect. As a result of this delay, well known third-party settlement organizations (TPSOs) will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount enacted as part of the American Rescue Plan of 2021. On December 23, the IRS announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.
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