This guide details exactly what you need to file with the IRS when working with freelancers and other non-employee providers, explains why it’s important, and offers tips to help you avoid costly ...

Zelle doesn’t report to the IRS—but that doesn’t mean you’re off the hook. Learn the 2025 rules and how banks may flag your ...

Federal taxpayers who earn income not subject to withholding may need to make estimated tax payments during the year.

New Rules for Form 1099-K For the 2023 tax year, third-party payment processors only needed to send out 1099-Ks if account holders conducted more than 200 transactions totaling at least $20,000 in ...

According to the IRS, money received from friends and family as a gift or repayment for a personal expense should not be reported on a Form 1099-K. The payments aren't taxable.

Instead, contact the issuer of the Form 1099-K, request that they remove these items from the form and reissue a corrected Form 1099-K. The IRS has instructions on how to handle this situation.

Business 1099-K tax rules: What you need to know if you get paid via Venmo, Cash App or PayPal Feb. 24, 2025 at 11:16 am Updated Feb. 24, 2025 at 12:16 pm By Kemberley Washington ...

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When sorting through your mail this tax season and set aside your important documents, you may receive a new form to your tax profile called a 1099-K. This is an income record which accounts for ...

It's tax season, and if you've received an unfamiliar income form this year, it might be a 1099 tax form. A 1099 form is used to document income received outside of a permanent salaried job.

The IRS is phasing in changes in the threshold, which, according to the IRS, would allow the agency to address the complex administrative challenges that will pop up once millions of additional 1099-K ...

The threshold is currently set to drop again in 2025, which means you'd receive a 1099-K during next year's tax season if you have transactions for more than $2,500 this year.