The American Relief Plan Act included an under-the-radar change that could impact a substantial number of individual taxpayers. As part of the Act, Congress has extended 1099-K reporting to $600 of total payments received. Anyone that sells on Ebay, Etsy, or a similar secondary market could now require a Schedule C when they file their 2021 Form 1040.
Learn more about the most recent 1099-K changes and how they've impacted online sellers...