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new 1099k tax law
Hi-
I have a question about the new gig bill that was just passed with the covid stimulus bill. The bill states that under the stimulus bill, for the 2022 tax year going forward, more workers will receive a Form 1099-K, which shows their gross income from gig economy platforms and which companies send to the IRS. Does this mean that anything sold on ebay or any other online platform will be reported for all 2021 transactions or does it mean that the new $600 threshold will take affect for 2022 transactions?
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March 12, 2021
7:37 AM