Watch the companion podcast: This is the third and final installment in our 1099-K series. In prior parts, we touched on how, when paying expenses that could be subject to 1099-K reporting, you don’t issue a 1099. Usually we’re talking about contract labor/1099-NEC, but it could also be other types of payments. This requires tracking…
Watch or listen to the related podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/form-1099-k-part-2-why-the-600-threshold-was-reversed-2/ In this part of our 1099-K series, I want to talk more about perspectives on 1099-K. Specifically, why the government tried to change the 1099-K threshold to $600, and why there was outcry about this. Unreported Income A survey by Avalara (https://newsroom.avalara.com/2025-01-30-Avalara-Survey-Shows-Gig-Economy-Workers-Caught-Off-Guard-by-Lower-1099-K-Reporting-Threshold) conducted when the threshold was…
Listen to or watch the related podcast: https://podcasts.dinesenmedia.com/show/information-return-intelligence-1/1099-k-part-1-understanding-the-rules-and-the-reporting-gap/ This article will attempt to cut through some of the confusion surrounding Form 1099-K. This form has been in the news since 2022, with the reporting threshold being a moving target ever since. And now, the One Big Beautiful Bill (OBBB) has re-set the threshold back to…
