For 2022, third-party settlement organizations (TPSO) are required to issue 1099-Ks to any payee who received more than $600 during the year; this new requirement for 2022 differs significantly from prior years. Therefore, we expect many clients to receive the forms this tax season.
If you received payments from TPSOs, such as eBay, Etsy, Airbnb, Venmo, or Uber, over $600, you should expect to receive a 1099-K. You must provide this information with your tax documents, as you'll be required to report the earnings on your tax return. If you received payments and did not receive a 1099-K, please check your online accounts with these organizations to confirm that they did not issue anything electronically.
Please note that this should not apply to individuals who've used these services for personal purposes (i.e., sending money to a family member or friend).