Published on: 2025-06-30 07:00:03
This year, some gig workers, freelancers and small business owners received an unfamiliar IRS tax form: a 1099-K. If you're one of them, how you report this form on your tax return could accidentally trigger an overpayment to the IRS. You'll receive a 1099-K form if you use a third-party payment service, such as PayPal, Venmo or CashApp, to receive freelance income and you earned $5,000 or more via these platforms in 2024. The problem is that you might also receive other 1099s for this same inc
Keywords: 1099 income irs payment tax
Find related items on AmazonPublished on: 2025-07-03 07:30:03
For some gig workers, freelancers and small business owners, a new kind of IRS form may have arrived alongside other forms they're used to receiving: a 1099-K. And if you're not careful, this form could make it easy to overpay the IRS. If you use a third-party payment service to receive payments, such as PayPal, Venmo or CashApp, those payment processors are now required to issue form 1099-K to you if you earned $5,000 or more in 2024. I'm an IRS-enrolled agent and tax expert who can help you
Keywords: 1099 income irs payment tax
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