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

But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.

Online shopping sites like Etsy, and eBay, and payment network PayPal, among other companies want Congress to change the new $600 reporting threshold for IRS Form 1099-K. The rule, which won't ...

You should see this tax form if you were paid more than $5,000 in freelance income via third-party payment apps last year. Courtney Johnston is a senior editor leading the CNET Money team ...

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year. Here’s why you might ...

Beginning Jan. 1, 2024, payment platforms such as PayPal, Square and Venmo must report payments totaling $5,000 or more in a calendar year, with no transaction minimum. The 1099-K threshold will ...