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  • IRS Delays Implementatiion of Form 1099-K for E-Commerce Platforms by O

    From Victor Roberts@21:1/5 to All on Fri Dec 23 17:16:48 2022
    The Internal Revenue Service on Friday gave millions of Americans a
    one-year reprieve on new tax-reporting requirements, delaying
    implementation of a law that requires e-commerce platforms such as
    eBay, Etsy and Airbnb to give the tax agency information on users with
    more than $600 in revenue.

    https://www.wsj.com/articles/irs-delays-gig-tax-filing-rule-for-side-hustles-of-more-than-600-11671815725?mod=e2tw

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  • From Adam H. Kerman@21:1/5 to Victor Roberts on Sat Dec 24 09:42:17 2022
    Victor Roberts <vicroberts@earthlink.net> wrote:

    The Internal Revenue Service on Friday gave millions of Americans a
    one-year reprieve on new tax-reporting requirements, delaying
    implementation of a law that requires e-commerce platforms such as
    eBay, Etsy and Airbnb to give the tax agency information on users with
    more than $600 in revenue.

    https://www.wsj.com/articles/irs-delays-gig-tax-filing-rule-for-side-hustles-of-more-than-600-11671815725?mod=e2tw

    I don't have a subscription to be able to read that.

    Here's the IRS news release:

    IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms' Forms 1099-K https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k

    and Notice 2023-10
    Revised Timeline Regarding Implementation of Amended Section 6050W(e) https://www.irs.gov/pub/irs-drop/n-2023-10.pdf

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

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  • From Richard Di Bernardo, CPA@21:1/5 to Adam H. Kerman on Wed Feb 1 03:27:15 2023
    On Saturday, December 24, 2022 at 6:43:36 AM UTC-8, Adam H. Kerman wrote:
    Victor Roberts <vicro...@earthlink.net> wrote:

    The Internal Revenue Service on Friday gave millions of Americans a >one-year reprieve on new tax-reporting requirements, delaying >implementation of a law that requires e-commerce platforms such as
    eBay, Etsy and Airbnb to give the tax agency information on users with
    more than $600 in revenue.

    https://www.wsj.com/articles/irs-delays-gig-tax-filing-rule-for-side-hustles-of-more-than-600-11671815725?mod=e2tw
    I don't have a subscription to be able to read that.

    Here's the IRS news release:

    IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms' Forms 1099-K https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k

    and Notice 2023-10
    Revised Timeline Regarding Implementation of Amended Section 6050W(e) https://www.irs.gov/pub/irs-drop/n-2023-10.pdf
    Good thing the IRS suspended the reporting. This spared a lot of young girls in Florida, Georgia, Louisiana, etc... much confusion. Some of the girls that they would have to prepare a Schedule C for the payments they received from Matt Gaetz.

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

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