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Daily Archives: January 15, 2025

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You May Receive a Form 1099-K This Year: What It Means for Your Taxes

Blog, Business Owner/Self Employed, Personal Finance, TaxBy Editorial TeamJanuary 15, 2025

The IRS is adjusting how it tracks online payments and e-commerce income, with significant changes to Form 1099-K thresholds. Starting in 2024, transactions totaling $5,000 or more will trigger a 1099-K form, with further reductions planned in the coming years.

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