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Small‑business advocates tell committee that 1099‑K reporting thresholds create confusion and burden
Summary
Accountants and small‑business representatives urged Congress to revisit recent changes to 1099‑K and 1099 reporting thresholds, saying the lower $600 threshold for some payment types and declining thresholds for marketplace reporting will create compliance burdens and unintended reporting for casual sellers. Witnesses asked for higher thresholds
Several witnesses told the House Ways and Means Committee that recent changes to third‑party payment reporting thresholds (commonly discussed as 1099‑K and 1099‑Ks) pose a compliance burden for small sellers and small businesses.
Lisonbee Couch testified that the $600 1099‑NEC threshold has not…
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