Congress Raises Ten Ninety-Nine K Threshold
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Congress Delivers Relief: Form 1099-K Threshold Raised to $20,000
The One Big Beautiful Bill Act, signed in 2025, increased the Form 1099-K reporting threshold to $20,000 annually and 200 transactions, reversing a controversial change from the American Rescue Plan Act. This change provides relief for casual sellers and freelancers, reducing paperwork and uncertainty. However, business income remains taxable, and some states maintain lower thresholds. The IRS now aligns with platforms on clearer rules, offering more breathing room for filers.
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