Announcement from the IRS regarding a free webinar on the 1099K delay for third- party reporting and the rollout for 2024 is below:
The Internal Revenue Service will hold a free webinar, designed primarily for tax professionals whose clients receive income typically reported to them on Form 1099-K, including those who often use popular payment apps and online marketplaces.
The webinar will take place on Thursday, Dec. 14 at 2 p.m. ET. It will reflect last month’s announcement that in general, prior-law reporting requirements for Form 1099-K will remain in effect for 2023 and that the IRS is planning for a $5,000-reporting threshold in 2024.
Among other things, the webinar will also cover:
- friends and family transactions
- how to report 1099-K amounts on a 2023 return
- what to do if a 1099-K is incorrect
- recordkeeping
- IRS resources
The webinar will include a live question and answer session. Though primarily aimed at tax professionals, anyone is welcome to attend.
To register for the webinar, visit Form 1099-K Third party payment network transactions (card and electronic payments)
