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Tax Liability Filing Requirements Mobile Payments

Stinson LLP

1099-K Reporting: IRS Further Delays the Day of RecKoning

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In early November, we issued an alert on the filing of information returns by payment settlement entities, such as PayPal or Venmo, when sellers of goods or services use them to carryout payments with buyers (see 1099-K...more

Stinson LLP

1099-K Reporting: Is a Day of RecKoning Coming Soon?

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In the American Rescue Plan Act of 2021, Congress lowered the minimum reporting threshold from $20,000 to $600 for filing information returns relating to reportable payment transactions that are facilitated by payment...more

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