Under a new federal law enacted in 2021 (the “American Rescue Plan” or the “New Law”), Venmo, Pay Pal, Cash App, Etsy, eBay and other e-commerce platforms are now required to send individual users ...

If you sell online, drive for a rideshare app, or take freelance gigs, the Form 1099-K has likely been a source of uncertainty over the past few years. Shifting thresholds, phased rollouts, and mixed ...

One law provision new for tax years beginning in 2022 and after that could catch many individual taxpayers by surprise — particularly those in the “gig economy” — is the much lower threshold at which ...

On November 26, 2024, the IRS issued Notice 2024-85, providing a revised timeline for the transition to the $600 threshold in section 6050W(e), as amended by the American Rescue Plan Act of 2021, for ...

The new-for-2022 law change that sharply reduced the reporting threshold at which third-party payment settlement entities must issue a Form 1099-K, Payment Card and Third Party Network Transactions, ...

Form 1099-K is used to report payments received for goods or services processed through payment apps, online marketplaces, and credit cards. The IRS has issued FAQs to explain when you might get one.

State officials say you should be on the lookout for unemployment compensation 1099 tax forms coming at the end of the month regardless of whether you received unemployment benefits or not. Officials ...

A law requires online marketplaces to send out a Form 1099-K for sales of $600 or more. Most casual sellers will not owe taxes on the sales, but that’s not always clear. By Ann Carrns It’s not unusual ...

Did you collect jobless benefits in 2021? Then you're going to need to sit back and wait to file your federal income tax return until you make sure you have all the right numbers in hand. Michigan ...

More than 1.2 million taxpayers who received jobless benefits in Michigan last year can now move forward and file their 2021 tax returns after a three-week delay involving key paperwork. The Michigan ...