{"product_id":"the-ultimate-1099-guide-steph-wynne-9798377957027","title":"The Ultimate 1099 Guide: For Entrepreneurs Who Give and Receive 1099s","description":"Yep, the IRS has decided to pause the implementation of Form 1099-K for 2023. \u003cp\u003e\u003c\/p\u003eWhat this means is that, for 2023, the IRS is reverting to the previous threshold. Anyone earning $20,000 or more and conducting 200 or more transactions will receive a 1099-K in January 2024. \u003cp\u003e\u003c\/p\u003eThis older requirement is now back in effect for 2023. \u003cp\u003e\u003c\/p\u003eIf the IRS had implemented the new law, starting in January 2024, most businesses and individuals would likely have received a 1099-K. \u003cp\u003e\u003c\/p\u003eA similar delay occurred last year, but it was on December 22, 2022, just before Christmas, when the IRS quietly announced the delay of the 1099-K for 2022. \u003cp\u003e\u003c\/p\u003eNow, beginning in 2024, the threshold will be set at $5,000. This means that in 2024 if you were paid through a third party like Venmo, Paypal, Square, Cash App, or numerous others, you will receive one or more 1099-K forms in 2025. \u003cp\u003e\u003c\/p\u003eI have a strong feeling that the $5,000 threshold will remain in place for 2024 and beyond, rather than the $600 threshold that the IRS had originally intended to implement. \u003cp\u003e\u003c\/p\u003eSo, let's rejoice and be happy! \u003ci\u003eSorry, but just because you might not get a 1099-K doesn't mean you don't report the money you made to the IRS!\u003c\/i\u003e \u003cp\u003e\u003c\/p\u003eFor more information directly from the IRS on Form 1099-K, visit their website. \u003cp\u003e\u003c\/p\u003e- Steph\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Steph Wynne\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 8377957027\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9798377957027\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Independently Published\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/21\/2023\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 34\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.13lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 0.07d","brand":"Steph Wynne","offers":[{"title":"Paperback","offer_id":44302222000383,"sku":"9798377957027","price":9.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_53eee154-1632-4c69-b90e-9fd3412f8f34.jpg?v=1695160226","url":"https:\/\/www.whiterainbookhouse.com\/products\/the-ultimate-1099-guide-steph-wynne-9798377957027","provider":"WR Book House","version":"1.0","type":"link"}