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
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The IRS just announced they are delaying the 1099-K reporting threshold reduction for tax year 2022. If you got paid through payment apps like PayPal, Etsy, or Ticketmaster, learn more here: https://intuit.me/3HZ7XSE | Intuit TurboTax
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