fintech / news / / The Economic Times
The new 1099-K tax rule brings relief for small sellers and gig workers using apps like PayPal, Venmo, and Cash App.
A new law passed on July 4, 2025, restores the higher 1099-K reporting threshold.
KEY POINTS
- For 2025, you will only receive a 1099-K if you earn over $20,000 and have 200+ transactions.
- The IRS had previously planned a $600 threshold, but this has been reversed for 2025.
- Payment platforms may report gross amounts on 1099-K forms without deducting fees or refunds.
COMPANIES
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