1099-K THRESHOLD DELAY

1099-K THRESHOLD DELAY

IRS ANNOUNCES DELAY IN FORM 1099-K REPORTING THRESHOLD FOR THIRD-PARTY PLATFORM PAYMENTS FOR 2023; PLANS FOR A THRESHOLD OF $5,000 IN 2024 TO PHASE IN IMPLEMENTATION

It may not be a Christmas Miracle, but this Implementation delay is something we can all share in Thanksgiving!
There has been a certain underlying anxiety in the tax space related to this reporting threshold.
Earlier, the IRS had released a 1099-K guide… Much, if not all, of which is now irrelevant.


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