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2. Heads up if you’re a freelancer or small business owner: The ...

   www.aol.com/heads-freelancer-small-business...

   For this year, if you had more than $5,000 in gross business transactions on a given app or platform, then you, the IRS and your state tax department should all receive a 1099-K reflecting that.

3. IRS ditches new tax requirement for now that would have ... - AOL

   www.aol.com/finance/irs-ditches-tax-requirement...

   The Internal Revenue Service is delaying the new $600 reporting threshold for 1099-K tax forms, a move many tax experts believe will help avoid potential chaos this upcoming filing season.

4. IRS delays 1099-K rules for ticket sales, announces new ... - AOL

   www.aol.com/irs-delays-1099-k-rules-180002651.html

   The IRS estimated that the new, significantly lower $600 threshold would have triggered an extra 28 million 1099-Ks being issued in 2024 for reporting income on 2023 tax returns.

5. Form 1099-K - Wikipedia

   en.wikipedia.org/wiki/Form_1099-K

   As of 2022, this was changed to match 1099-MISC requirements. [13] [14] [2] Even with this provision, many payers still choose to file Form 1099-MISC. This means that if the payee meets the minimum threshold for receiving Form 1099-K, they may actually receive both Form 1099-MISC and Form 1099-K and possibly over-report their payments.

6. Will You Have To Pay Taxes to the IRS When You Resell ... - AOL

   www.aol.com/pay-taxes-irs-resell-tickets...

   The threshold for receiving a Form 1099-K is based on your total sales, not your profit. This means that even if you lost money on your sales, you may receive a Form 1099-K.

7. 4 Things Small Business Owners and Freelancers Should ... - AOL

   www.aol.com/4-things-small-business-owners...

   Form 1099-K is designed to provide tax reporting on payments from a third party (such as payment apps and online marketplaces) ... For the 2024 tax year, the threshold will fall to $5,000, and ...