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30,000,000 More 1099-Ks for the IRS to Use Against You [GAO Report]
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According to a new federal report released earlier this week, the IRS is estimated to be receiving 30,000,000 more Forms 1099-K in 2024 than it has averaged in previous, thanks to the lower $600 reporting threshold imposed by the American Rescue Plan Act. In this episode, I go over this report, how to correctly report 1099-K information on your tax return, how I'm preparing as a CPA, and more!
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