Form 1099-K Reporting Threshold Change Delayed, Phase to Start 2024

After facing pushback from the tax community and third-party payment facilitators, the Form 1099-K reporting threshold will remain unchanged for calendar year 2023 in lieu of a phased-in approach beginning next year to allow more time to address taxpayer confusion. (IR 2023-221; Fact Sheet 2023-27; Notice 2023-74, 2023-51 IRB).