More taxpayers will be bewildered when a 1099-K hits the mailbox this tax season. And the temptation might be to pitch it, which would be exactly the wrong thing to do. This year, taxpayers will ...

Asking yourself what's a 1099-K? Don't panic. Here's what you need to know about this tax from. The IRS said the 1099-K form is a report of payments you received for goods or services during the ...

Understanding Form 1099-K, including verifying its accuracy and using it to properly report your income, is crucial. Here's what you need to know to stay compliant and avoid tax surprises.

“The reality is, if you've had self-employment or side-gig income, that’s had to go on your tax return since 1913.” Some states have lowered the reporting requirements for a 1099-K even ...

If you’re a freelancer, business owner, or just have a small side hustle, you should know about the new tax requirement this year for electronic payments through Venmo, PayPal, online ...

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.

If you said yes to any of these, be prepared to receive a 1099-K from the Internal Revenue ... you must report all income on your tax return. I received money from family and friends.

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 goods or services, or rent out property, the money you earn is ...