New, lower Form 1099-K threshold prompts cautions, criticisms

New, lower Form 1099-K threshold prompts cautions, criticisms

The new, lower $600 reporting threshold for reporting credit card and cash payment app transactions will likely lead to problems for taxpayers and payment settlement entities, the Taxpayer Advocate Service warns.
Source: JOA News
Read More here – New, lower Form 1099-K threshold prompts cautions, criticisms