The threshold is currently set to drop again in 2025, which means you'd receive a 1099-K during next year's tax season if you have transactions for more than $2,500 this year.

SSA-1099 isn’t necessarily an IRS form but you might need one to do your taxes. The Social Security Administration issues SSA-1099s, which detail your benefits income.

A lower threshold of $5,000 for 2024 means a bigger paper trail for the Internal Revenue Service to follow relating to taxable transactions. This year, "a lot more people are going to get a 1099-K ...

Form 1099-K reports the gross proceeds of any third party network transaction, without reduction for any fees, expenses or costs of goods sold. See section 6050W(a)(2). 2 See https://www.irs.gov ...

An IRS official said the agency is "working judiciously" to implement both the 1099-K and 1099-DA requirements. "We acknowledge the benefits and burdens of expanding third party information reporting ...

So you receive a 1099-K tax form this year. Here’s what to know. 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 ...