904-356-0349 info@nedjacksontax.com

IRS has announced that that the 3rd party platform payments has been delayed until 2024. For those who use Paypal, Venmo and others in 2023, you will only get a K1 for amounts over $20,000 or over 200 transactions. In 2024 that threshold will fall to $5000 and include any transaction of $600 or more to one person. We will keep you posted on the new law as it starts to take affect.

 

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