To keep it simple, we’ve noted the big changes. With all the changes, you may be wondering if you’re totally caught-up on what’s new. What changed with 1099-K rules? And what’s been delayed?Ī new tax law, and then a delay of that law? Yeah, it’s a lot to digest. Officially, this document is called “Form 1099-K: Payment Card and Third Party Network Transactions,” which may shed some light on who sends these forms and why. The 1099-K form reports payments and transactions from online platforms, apps or payment card processors. And, if you do receive Form 1099-K, you can count on H&R Block to help you navigate your taxes.Įxplore the ways you can file taxes with H&R Block. Read on to dig into the details, starting with what this form is all about. With the delay of the rule, not as many people will be affected as expected this year. Some people will still receive Form 1099-K for tax year 2022 early in 2023 based on the previous rules.In general, the rules for sending Form 1099-K for tax year 2022 will apply as they did for tax year 2021 according to the IRS announcement.
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