There's bipartisan support for the changeThe lower Form 1099-K thresholds were originally slated for 2022.
watch nowThe Republican-led House Ways and Means Committee in June approved legislation to revert the reporting thresholds back to 2022 levels.
Form 1099-K has 'always been problematic'Meanwhile, there are lingering worries among tax professionals about the 1099-K change.
For businesses selling goods, she said Form 1099-K may not accurately reflect returns or adjustments.
How to prepare for the 1099-K reporting change
Persons:
Sherrod Brown, Bill Cassidy, Rosenthal, AICPA, Phyllis Jo Kubey, Kubey
Organizations:
PayPal, IRS, Republican, Sens, American Institute of CPAs, New York State Society of
Locations:
Ohio, New York