What amount does income tax start to have to be paid? Are they implementing collecting on $600 and

Question

over from sales this year-next year?

mam98031 · Accepted Answer

The IRS has not yet announced what the threshold is on the 1099K form for 2024.  If they don't change it then it is $600.  But remember, this is just a form and nothing more than a form.  It does not set the threshold to report your income, it never has. Myth: If taxpayers didn't receive a Form 1099-K, they don't have to report income.Fact: According to federal law, all income is taxable unless it is specifically excluded by tax law. Taxpayers should...