Form 1099-K Reporting Threshold Change Delayed, Phase to Start 2024 - November 22, 2023

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).

Stephen J. Bravo & Co

Stephen J. Bravo & Company has provided tax & accounting services to individuals, trusts, estates and small businesses since 1988. Our firm is dedicated to providing the highest level of client service possible.

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904 Concord Street
Framingham, MA 01701

Phone: (508) 872-4002

Fax: (508) 872-0055

The best way to contact us is by email!