Three Things You Need To Know About The 1099-K
If you run a small business that takes payments via a third-party network company -- that acts as a go-between that takes the customer's payment and places it in an account for you -- you know that the past few years have seen some changes to how your income is reported to the IRS. One of the biggest changes is the 1099-K, a relatively simple form that these processors are now required to send to the IRS and you when you hit a certain threshold.