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With icons like Taylor Swift on tour this summer, concert ticket purchases are booming. Unfortunately, so are ticket scams.In 2022, the Better Business Bureau received over 140 reports on BBB Scam ...
Editor’s Note: Taxpayers who received 1099-K forms this year do not have to report payments of less than $600 for the 2022 tax year. They may have to report that tax information for the 2023 tax ...
This means that if you sold tickets for more than $600, your ticket platform would send you a Form 1099-K and report that income to the IRS, even if you didn’t make a profit on your sales ...
1099 OID fraud is a common scam used to obtain money from the U.S. Internal Revenue Service (IRS) by filing false tax refund claims. [1]Form 1099-OID is intended to be submitted to the IRS by the holder of debt instruments (such as bonds, notes, or certificates) which were discounted at purchase to report the taxable difference between the instruments' actual value and the discounted purchase ...
Ticketmaster was founded in Phoenix, Arizona in 1976 [5] by college staffers Peter Gadwa and Albert Leffler, Gordon Gunn III, as well as businessman Jerry Nelson. [6] [7] The company originally licensed computer programs and sold hardware for ticketing systems.
The IRS again delays law that would have required Ticketmaster, Venmo, and others to issue 1099-Ks to those with more than $600 in revenue in 2023. IRS delays 1099-K rules for ticket sales ...
CashorTrade is a fan-to-fan face-value ticket-reselling market created in 2009 by brothers Brando and Dusty Rich based in Burlington, Vermont. [1] As of November 2017, the platform had users from 20 countries and had processed over half a million transactions. [2]
IRS Form 1099-K could be in your future if you sold items via online marketplaces like eBay and Venmo. Here’s what you need to know. ... maybe you bought an expensive concert ticket and resold ...
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