Because of the way IRS computer systems are configured, the IRS computers will not detect an over-reporting of income and ...

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

IRS Forms 1099 are used so the IRS can match Social Security numbers with tax returns to speed IRS collection efforts. But ...

a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. The IRS will begin accepting and processing 2024 federal ...

As tax season approaches in 2025, individuals receiving over $5,000 in payments for goods or services through digital ...

If you received a total of $5,000 or more through a payment app in 2024, that company is now required to report that amount ...

The 16th Amendment to the Constitution was ratified in 1913, which gave Congress the authority to tax all incomes. The first ...

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year.

Did you just receive a form called a 1099-K ... You would have to have pushed above that $5,000 threshold in 2024 to receive a 1099-K for this tax season. The American Rescue Plan Act of 2021 ...

Form 1099-K must be sent to taxpayers by Jan. 31 of the following year. That is, you should have received your 1099-K for 2024 by the end of January 2025. (See the 2025 tax deadlines.) If you sell ...