Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in 2024.
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Heads up if you’re a freelancer or small business owner: The IRS may need something new from you
Heads up to anyone who is a freelancer, independent contractor, business owner, property renter or just a hobbyist who occasionally sells their creations: If you accept business-related income through a payment app or online marketplace like Venmo, CashApp, Airbnb and Etsy, come January you may start receiving 1099-K tax forms from the platforms where you do business.
