The new 1099K rules are here to stay and will affect many people like you and me. It’s not just for small business owners anymore. The tricky part is, this year, you might get a new tax form called a 1099-K from the IRS. You have to put it on your tax return. In past years, you probably didn’t even know this form was a thing!
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Do you have questions about The New 1099 K Problem: What You Need to Know? I’m an Illinois-licensed, Registered Certified Public Accountant with over 25 years of experience. I’m dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicago area.
Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.