KPMG report: Transitory relief for Forms 1099-K

Issues that taxpayers will likely encounter in the upcoming filing season and additional changes announced for 2024

Issues that taxpayers will likely encounter in the upcoming filing season and additional c

The IRS on November 21, 2023, once again announced transitory relief for Forms 1099-K, raising the de minimis threshold for third party settlement organizations (TPSOs) back to $20,000 and 200 transactions for payments made in 2023. Read TaxNewsFlash

Read a December 2023 report [PDF 200 KB] prepared by KPMG LLP that discusses the recent relief, issues that taxpayers will likely encounter in the upcoming filing season, and additional changes announced for 2024.

 

Read the report

Déjà vu, Holidays Bring Form 1099-K Relief Once More

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