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1099k Request - Mail or Online
 

Is it safe to say that accounts being asked if we would like our 1099k received in
a) Mail & Online
b) Online only (recommended)

Will be sent a 1099 form for next tax season?



I noticed my few accounts were being asked this question, I'm hoping they just ask this question to all accounts, even the ones that have stayed under the threshold.


I made sure to stay under the $20k mark to not be sent a tax form. Did eBay MP change the threshold for the amount needed to get sent a 1099?

Re: 1099k Request - Mail or Online
 

From what I know that threshold is changing next year.
Perhaps theyre sending them this year as well as a practice run. Not like it costs them money sending emails.
Pretty sure if your acct gets this message that youll get the 1099.

Re: 1099k Request - Mail or Online
 

What are the current rumors about the new threshold $ amount it will be per year?

Re: 1099k Request - Mail or Online
 

Not rumors at all. It is $600 and was part of the last stimulus bill and signed into law. No quantity, but simply $600 This goes for facebook, venmo, etc... everything. $600
All my accounts have had this request. Last year they mailed them. This year they are trying to not mail them.

Re: 1099k Request - Mail or Online
 

Here are a few links to the new IRS 1099k for 2022
https://taxmedics.net/the-paypal-109...ole-gone-baby/
https://www.twrblog.com/2021/03/amer...mis-threshold/

Re: 1099k Request - Mail or Online
 

Seems pointless to try to avoid this. Will pay one way or another!

Re: 1099k Request - Mail or Online
 

They Biden Administration was trying to monitor all checking, savings, portfolio accounts with $600 in them. The new request is accounts that have a combined $10,000 over a course of a year will be monitored by the IRS. This isnt yet signed into law but they are saying they dont have to. That is is simply enforcing laws already in place.

Re: 1099k Request - Mail or Online
 

Great. So pretty much stealth is slowly dying if its not dead already

Re: 1099k Request - Mail or Online
 

More like evolving....for the good or bad is debatable :(

Re: 1099k Request - Mail or Online
 

Send your money to a South Dakota trust, no one can touch it.

Re: 1099k Request - Mail or Online
 

Us billionaires gotta pay our fair share.. lol

Re: 1099k Request - Mail or Online
 

Well, the tax stuff has nothing to do with stealth, it's more of people not wanting to pay taxes.

As long as the taxes are paid, they'll leave us alone.

Re: 1099k Request - Mail or Online
 

In this case, it really does, at least in the USA. All accounts that handle $600 a year need to have a tax number. So unless you consider full SS numbers and matching names or corporations with EIN numbers stealth, it is about gone.