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Episode 10: 3 Things You Need to Know about Form 1099K
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The Form 1099K serves as a detailed summary of annual payments received from third-party payment providers like Venmo, CashApp, Uber, Airbnb, and Paypal. Recently, a noteworthy change has been made to the reporting threshold, which now stands at $600 starting January 1, 2023. This alteration in legislation will impact a significant number of taxpayers this year, necessitating proper preparation.
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