IRS: Free Dec. 14 webinar to focus on tax year 2023 Form 1099-K reporting rules; designed to help reporting income through payment apps and online marketplaces

7 months ago 280

IR-2023-236, Dec. 12, 2023

WASHINGTON — 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).

Read Entire Article