IRS Repreive From 1099-K for 2023

[69hurstolds]

Delayed by one year. This means if you get paid via Paypal, Zelle, Venmo, etc., over $600 in 2023, it's 1099-K time. So those daredevils who got paid <20K or 200 transactions this year got lucky.

WSJ News Exclusive | IRS Delays Gig-Tax Filing Rule for Side Hustles of More Than $600

The Internal Revenue Service gives millions of Americans a one-year reprieve on new 1099-K tax-reporting requirements, offering relief to users of e-commerce platforms such as eBay, Etsy and Airbnb.

www.wsj.com

 

[Built6spdMCSS]

I sold off all my extra stuff earlier this year for this and a couple other reasons. Funny how that works...

 

[69hurstolds]

Yup. I guess you'll be luckin' out next year. But there's always those dumazzes that will continue to rack up a ton of sales then shat their pants when the 1099-Ks start rollin' in.

 

[86LK]

sure am glad I get paid in cash for my limo gigs and tips....

 

[DRIVEN]

FEDcoin will iron out all the wrinkles. They'll get it one way or another.

 

[69hurstolds]

FEDcoin will iron out all the wrinkles. They'll get it one way or another.

Yep, that's why they're dragging Sam Bankman-Fried back to the U.S. They'll need someone to run that program.