The 1099-K change means these casual online sellers, gig workers, freelancers and small business owners whose online transactions met the new reporting threshold for the first time in 2024 could ...

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.

Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced Form 1099-NEC as the new way to ... [+] report self-employment income instead of Form 1099-MISC as traditionally had been used.

Form 1099-K reporting requirements have created a lot of confusion, and it's understandable why. Many of those sellers haven’t received 1099-Ks before, so understanding the new rules is ...

The IRS is requiring third party payment apps to send you a 1099-K tax form if you made more than $5,000 on the platform in 2024. This reporting change will give the IRS a clearer picture of how ...

New research commissioned by tax automation provider Avalara shows 61% of gig economy workers are unaware of recently lowered 1099-K reporting thresholds aimed at capturing unreported online sales ...