In this video, Kim Mahanna, discusses the Top 3 1099 S Reporting Issues. Click to watch our four minute video and learn how to avoid IRS penalties.
IRS Announces Form 1099-K Reporting Relief
In the past, individuals and businesses would only receive a 1099-K form under certain circumstances. This includes when there were over 200 transactions or gross payments totaling more than $20,000 received through payment apps or credit card processors.