IRS Revises Form 1099-K FAQs
The IRS recently revised frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet FS-2023-06.
The updates are as follows:
- General section: Question 3 updated
- Individuals section: Questions 6 and 7 added
- Filing Form 1099-K section: Question 5 updated
These FAQs supersede earlier FAQs that were posted in FS-2022-41 on Dec. 28, 2022.