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Photographers & Venmo 1099-K

Photographers that use Venmo to collect money from clients wont likely see the new IRS Form 1099-K this coming year. The IRS just announced that the new $600 Form 1099-K reporting threshold for third party platform payments has been delayed. The current requirement is $20,000 and more than 200 transactions. Starting in 2024, the threshold will be reduced to $5,000.

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