August 11, 2025
Inside OBBBA: New 1099-K Reporting Thresholds Take Effect in 2025
With the recent passage of the OBBBA, 1099-K reporting thresholds previously lowered to $600 through the American Rescue Plan Act of 2021 have been reversed. If you receive payments through third-party platforms like Venmo, PayPal, Cash App, or Zelle, it’s important to understand how these changes may impact your tax reporting. Beginning in 2025, payment…