The IRS has a poster providing information about Form 1099-K, Payment Card and Third Party Network Transactions for those making money selling things or providing a service. The poster has the 2023 thresholds for this information return that reports gross amount of transactions on credit cards or through electronic transfers. The poster has a link on what to do if a 1099-K was received in error. And the poster also has a QR code that can be scanned to find more information. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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