Americans are worried about a new tax reporting requirement that will force applications like Venmo, Cash App, Paypal, Airbnb, and Ebay to send 1099-K forms to users. The U.S. Internal Revenue Service (IRS) is specifically focusing on payments of $600 or more for goods and services received through a third-party payment network. US Residents Think Form 1099-K Will Cause Headaches — IRS Says It’s Important ‘Records Reflect Business Income’ A new tax reporting requirement from the IRS will require third-party payment processors to send users who receive payments of $600…
Declare the Side Hustle — Americans Are Concerned About the 1099-K Tax Rule for Payments Over $600 – Taxes Bitcoin News
