1099-K

IRS delays reporting requirement for cash transfers

Clark Baisa Dec 26, 2022

The Internal Revenue Service (IRS) has delayed a plan to require taxpayers to report third-party cash transfers of $600 or more. The interruption was announced on Friday in order to make the 2022 tax year a transitional year for the new…

IRS: Who needs to file a 1099-K form this pay period?

Dahlia Martyna Dec 10, 2022

The regulation mandates that if annual company transactions reach $600, third-party payment platforms must provide Americans and the IRS with a 1099-K. Payment for an item or service qualifies as a commercial transaction that is subject…

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