Careers - Opinium
Careers - Opinium
Nov 20, 2024
opinium.com
6K views · 111 reactions | The new $600 threshold for payment apps and online marketplaces to report payments on a 1099-K is delayed. #IRS reminder: Money received from friends and family as a gift isn’t taxable income and shouldn’t be reported on a 1099-K. www.irs.gov/1099k | IRS | Facebook
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6K views · 111 reactions | The new $600 threshold for payment apps …
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Starting next year, a new IRS rule will require anyone earning over $600 on payment apps, like Venmo, in 2023 to receive a 1099-K form. The old threshold was earning $20,000 over 200 transactions. Our tax time series clears up some of the confusion over transactions made on payment platforms. | CBS Evening News
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