Tax season is getting more complicated for the smallest businesses, Inc. reports. The minimal reporting threshold for peer-to-peer payment platform transactions has decreased from $20,000 (or 200 transactions) to just $600 because of a provision in the American Rescue Plan Act of 2021. That means that businesses that use platforms like Venmo, Cash App, PayPal,
Latest 1099-K reporting rules complicate small business taxes
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