Because of how IRS computer systems are configured, the IRS computers will not detect an over-reporting of income and send ...

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.

The day none of us want to think about is steadily approaching —Tax Day 2025. If you want to get a head start, filing is open ...

If you received a total of $5,000 or more through a payment app in 2024, that company is now required to report that amount ...

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year.

The 16th Amendment to the Constitution was ratified in 1913, which gave Congress the authority to tax all incomes. The first ...

Form 1099-K must be sent to taxpayers by Jan. 31 of the following year. That is, you should have received your 1099-K for 2024 by the end of January 2025. (See the 2025 tax deadlines.) If you sell ...

As tax season approaches in 2025, individuals receiving over $5,000 in payments for goods or services through digital ...