The U.S. IRS has announced that Form 1099-K threshold transition relief is being provided for third-party settlement organizations (TPSOs), with a threshold of USD 5,000 in 2024, USD 2,500 in 2025, and USD 600 in 2026 and future years. The USD 600 threshold was to apply from 2023 but was delayed.
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IRS provides transition relief for third-party settlement organizations; Form 1099-K threshold is $5,000 for calendar year 2024
WASHINGTON — The Internal Revenue Service today issued Notice…