Because of how IRS computer systems are configured, the IRS computers will not detect an over-reporting of income and send ...

The income threshold for Form 1099-K was lowered to $600 as part of the American Rescue Plan Act (ARPA) of 2021. Prior to ARPA’s passage, only total payments of $20,000 or more, and more than ...

Based on the American Rescue Plan Act of 2021, the new reporting requirements require these platforms to provide the taxpayer and the IRS with an IRS Form 1099-K – Payment Card and Third Party ...

New $600 threshold for Form 1099-K As part of the American Rescue Plan Act of 2021, the threshold for sending a Form 1099-K was changed from payments over $20,000 from more than 200 transactions ...