Sean on Nostr: "Under the law, beginning January 1, 2023, a TPSO is required to report third-party ...
"Under the law, beginning January 1, 2023, a TPSO is required to report third-party network transactions paid in 2022 with any participating payee that exceed a minimum threshold of $600 in aggregate payments, regardless of the number of transactions."
The idea that you can skirt the $600 reporting by keeping your transactions under that amount is false. It's $600 annually, not per transaction.
https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k
The idea that you can skirt the $600 reporting by keeping your transactions under that amount is false. It's $600 annually, not per transaction.
https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k