Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one.

$5,000 in 2024; $2,500 in 2025; $600 in 2026 and after; According to the IRS, you may receive a Form 1099-K even when total payments are less than the reporting threshold. No matter the amount of ...

Tax season is underway and one of the most buzzworthy documents has been Form 1099-K. If you're used to filing with Form 1099-K, it won't surprise you. However, some receiving the form might not ...

The IRS said the 1099-K form is a report of payments you received for goods or services during the year if you made any money or payments via cards (credit, debit, gift cards). Payments can be ...

Understanding Form 1099-K, including verifying its accuracy and using it to properly report your income, is crucial. Here's what you need to know to stay compliant and avoid tax surprises.

Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one.

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 ...

If you receive the form incorrectly, you can ask the provider for an amended 1099-K with your explanation of what is wrong. You can also just enter the correct amount on your 1040’s Schedule 1.

A 1099-K form is sent to self-employed people who use third-party payment apps. Its threshold has been lowered from $20,000 to $5,000.

A payment app or online marketplace is required to send you a Form 1099-K if the payments you received for goods or services total over $5,000.

Form 1099-K may have errors when nontaxable categories are included and the payer didn’t add a note about what the payment was for. For example, Steber said, someone paying for a cleaning ...