Form 1099-K threshold: The Internal Revenue Service (IRS) has issued Notice 2024-85, providing critical transition relief for third-party settlement organizations (TPSOs), such as payment apps and online marketplaces. The notice outlines updated Form 1099-K reporting thresholds for the next three years, giving businesses more time to adapt to these changes. Key Changes to Form 1099-K … Continue reading Form 1099-K threshold is $5000 for calendar year 2024