Скачать или смотреть 1099-K Shock: What the 2026 Phase-In Means

The IRS phased 1099-K changes finish in 2026. Learn who will get forms, what actually becomes taxable vs. just reported, how to avoid surprises from late/incorrect 1099-Ks, and the exact actions side hustlers must take now to protect cashflow and avoid penalties.

📌 Key Topics Covered:
1. Phased thresholds per IRS Notice 2024-85: $5,000 for 2024, $2,500 for 2025, and $600 for 2026 and af...
2. Receiving a Form 1099-K does not create new tax — it is an information return. All income from goods...
3. The IRS provided limited penalty relief to TPSOs for some backup withholding deposit penalties in 20...
4. Practically, the 2026 $600 threshold means many more side-hustlers will receive 1099-Ks; platforms m...
5. Common platform practices that cause surprises: aggregated gross receipts (no expense offsets), incl...

⚠️ Educational only — not legal or tax advice. This video explains the IRS phased 1099-K reporting schedule (final transition under Notice 2024-85: $5,000 for 2024, $2,500 for 2025, and $600 for 2026 and thereafter) and related IRS guidance (see IRS 'Understanding your Form 1099-K' and Notice 2024-85). Always confirm specifics at IRS.gov and consult a qualified tax pro about your situation; rules, enforcement dates, and platform practices can change.

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