A payment settlement entity (PSE) must submit Form 1099-K - Transactions with Payment Cards and Third Party Networks for payments made in the settlement of reportable payment transactions for each calendar year. In 2023, has the reporting requirement for third-party network transactions changed from totals exceeding $20,000 to totals exceeding what amount, regardless of the total number of transactions?

Answer rating: 100% (QA)

ANSWER Based on the recent changes in the tax reporting requirements the reporting th... View the full answer