This new episode of Issues in Focus provides background information on a recent change to income tax reporting requirements for online sellers in the United States. Starting on January 1, 2022, IRS regulations require all businesses that process payments, including online marketplaces like eBay, to issue a 1099-K form to sellers who receive $600 or more in gross payouts. Previously, only sellers with gross payouts over $20,000 who had at least 200 transactions would get a 1099-K form. The eBay Government Relations Team has been working hard to advocate for an increase to the 1099-K threshold and we encourage you to visit ebaymainstreet.com/1099K to share your story about the importance of online selling or send a letter to your member of Congress.
August 30, 2022