View Post

1099-K Audits

In 1099-K, Audit by Jason FreemanLeave a Comment

A Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS information return that is used to report payment card transactions.  The IRS first began requiring payers to report annual gross payment transactions on a 1099-K in 2012, following the enactment of the Housing and Economic Recovery Act of 2008, Pub. L. No. 110-289, 122 Stat. 2654, which added …