09/08/2023
Form 1099-K
New law lowers filing threshold.
Reduced reporting threshold delayed until 2023 tax year (2024 filing season)
$600.00 reporting threshold
Person to person apps. (PayPal, Venmo, Cash App, etc)
Platform marketplaces: (Facebook marketplace, Amazon, eBay, etc)
Zelle is not required to file a form 1099-K
Personal transactions such as sending money to family and friends, not in exchange for goods or services, should not be reported on form 1099-K
