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Wednesday, January 4, 2023, 13:01

The IRS has announced a delay in reporting thresholds for third-party settlement organizations (TPSOs) set to take effect for the upcoming tax filing season.

More information can be found on through this link:  2022 1099K reporting requirements.

For Frequently Asked Questions about Form 1099K, view this Fact Sheet from the Internal Revenue Service.

Note that all income is reportable whether or not you receive a 1099K.  This Fact Sheet addresses circumstances in which an amount may be reported on a 1099K, but the amount may not be accurately classified as income.  The Fact Sheet explains how to report these transactions appropriately on a tax return.


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