“New 1099-K Filing Rules
Delayed Again”
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Do you sell goods and services?
Are you paid through a third-party settlement organization (TPSO) like PayPal? Then be aware…
The IRS has changed the likelihood of your receiving a 1099-K. Again!
So what happened?
Because the IRS feared chaos, it has acted to delay implementation of new tax reporting requirements . . . Requirements scheduled to apply to TPSOs like PayPal beginning with the 2023 tax year.
Some good news.
The old rules for filing Form 1099-K will continue to apply for 2023, and a new transition rule will go into effect in 2024.
Complicated? You bet. But we’re dealing with the IRS so all of this should come as no surprise.
Here’s just some of the important topics
I’ll cover in my new article.
How can the IRS do this?
Why all the delays?
What exactly is Form 1099-K
Payments by payment cards
Payments through TPSOs
A loophole you should know about
And much, much more.
Want to find out about how this new delay caused by the IRS impacts you? Easy.
CLICK HERE to read my completely new article titled:
“New 1099-K Filing Rules
Delayed Again”