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IRS be like (lemmy.ml)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] XeroxCool 2 points 1 year ago (1 children)

Most importantly being that this limit, form, and change is for businesses. This is not for personal accounts.

[–] [email protected] 5 points 1 year ago (1 children)

That is for businesses, Cash app PayPal venmo etc,to report to the IRS that you had this source of income. 1099k has to deal with Internet transactions. This is absolutely for personal accounts.

[–] XeroxCool 1 points 1 year ago (1 children)

Payments you got from family and friends should not be reported on Form 1099-K

[–] [email protected] 3 points 1 year ago

Yes, yet this is what people are acting as if this regulations are. Keyword here is should.