As part of former President Joe Biden’s attempt to ensure everyone pays their fair share of taxes, Congress lowered in 2021 the threshold ... would trigger a Form 1099-K, or report of payments ...

The American Rescue Plan Act of 2021 revamped reporting requirements for third-party networks and initially was to trigger a ...

The America Rescue Plan increased the CTC in 2021 and made it fully refundable ... Previously, TPSOs were required to file Form 1099-K only if customers processed at least 200 transactions ...