Loading...

The IRS has announced a one-year pause on the new $600 tax-reporting threshold for individuals utilizing payment networks such as Cashapp, PayPal, and Venmo.

As a result of this delay, third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee….”

The 2021 American Rescue Plan legislation lowered the threshold from $20,000 to only $600, and it’s one of the most unpopular changes made by President Joe Biden. 
Press Release From IRS

Comments are closed.

THE CONVO TALK SHOW

Cart
Products
Cart
Cart

[BestSale title=”BEST SELLERS” number=”4″ template=”default” ]

[BestSale title=”BEST SELLERS” number=”4″ template=”default” ]

Recent Comments

No comments to show.
Products
0
    0
    Your Cart
    Your cart is empty