The IRS gave payment processors a reprieve, announcing on Friday: “third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount enacted Read more
Congress has 43 days to act to protect casual online sellers and microbusinesses from “unfair tax and privacy burdens,” according to a coalition of online marketplaces. The countdown clock appears on 1099kfairness.org, the website of lobbying group Coalition for 1099-K Read more
Ecommerce platform Shopify launched a tool to help merchants manage their sales-tax collection obligations – and the company said it was just the beginning. Its long-term goal is to build a complete end-to-end sales-tax solution for sellers. A spokesperson for Read more
In what seemed like a routine email titled, “View updates to your PayPal account,” PayPal informed an online seller he had passed the threshold for reporting payments to the IRS, notifying him that according to its records, he had received Read more
California’s Attorney General filed a lawsuit in Superior Court in San Francisco against Amazon on September 14 alleging it stifled competition and caused increased prices through “anticompetitive contracting practices.” The timing of the filing coincided with the first day of Read more
What do you do if you fear IRS scrutiny for selling items you inherited? Tax guru and small-business expert Barbara Weltman, founder of Big Ideas for Small Business, Inc., delved into this issue for those worried about how changes to Read more
A court ruled in favor of Amazon sellers on Friday concerning a dispute over their obligation to pay Pennsylvania state sales tax simply because they used Amazon’s FBA fulfillment service, resulting in some of their inventory being stored in Amazon Read more
eBay has been trying to change the rules around IRS Form 1099-K, which changed for tax-year 2022. This week it turned to YouTube to explain the issue through the account belonging to eBay Main Street, an initiative to keep eBay Read more
eBay launched a new “Tax Information Center for eBay Sellers” as new tax rules that impact sellers’ 2022 revenue are in place. eBay said it partnered with TaxAct, a do-it-yourself tax-preparation service, “to help untangle the impact of the new Read more
The IRS published a new tax tip in its email newsletter it sent to small businesses on July 22, 2022. The crux of the tip: if your hobby earns income, you must report it on your tax return. The newsletter Read more
