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1099-K – XtremeCuztoms

Tag: 1099-K

Freelancers Can Prepare Now for New 2023 Tax Reporting

April 19, 2023
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NEW YORK—Taxpayers who have filed their 2022 taxes by Tuesday’s deadline may be sighing with relief. But there’s always next year. If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2023 tax year. The law will not…

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Sellers and Accountants Applaud Delayed 1099-K Reporting

February 27, 2023
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A required 1099-K form for services from third-party payment networks has been delayed. A 1099-K will not have to be issued for services over $600. Although there is a top number where they will be issued, in tax year 2022, the lower threshold will not count. Many people, like freelancers and online sellers, use third-party…

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