In 2025, taxpayers who have received more than $5,000 through online marketplaces or payment apps like Venmo, Zelle, Google Wallet, or other services will receive a new form called the 1099-K.

U.S. stocks continued to tumble in the wake of President Donald Trump’s Wednesday tariff announcement, raising concerns among investors stashing away money in retirement funds like 401(k ...

Payment processors (like PayPal, Venmo, and sometimes crypto exchanges) issue the 1099-K form when payments for goods or services exceed certain thresholds. It was originally designed for platforms ...

Totally wrong,' he added. This tax season, Americans need to use 1099-K forms to report third-party app payments totaling $5,000 or more to the IRS - a substantial drop from $20,000 last year.