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IRS Makes Revisions And Updates On FAQs About Form 1099-K

7 Feb 2024 1:54 PM | MaSEA Staff (Administrator)

In an effort to provide more resources for taxpayers during this filing season, the Internal Revenue Service today revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet 2024-03PDF.

The revised FAQs provide more general information for taxpayers, including common situations, along with more clarity for industry and what organizations should send Forms 1099-K. The FAQs are in addition to a recently updated Understanding your Form 1099-K on IRS.gov page and other communications resources.

Click here to read more.

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