Tax time! This year if you are/were an independent contractor or self-employed you need to keep your eye on all mails and emails . IRS changed the rule for reporting an income for payment processors/ originators from $20,000 to $600. That means if you accept money via app or online and used apps like Venmo, CashApp, Zelle, Square, Paypal or others, they may send you a 1099K, 1099NEC or 1099MSC. That means they already reported your income to IRS. The same if yiu were working in 2022/as vendor or independent contractors your client may send you some 1099 forms. So this tax season the best practice is keep all tax related documents in one big envelope or shoe box and let the tax professionals sort it for you.
Amde
From YebboTax
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