IRS $600

Delays tax 

Dec 28,2022

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For the first time in the US, if someone earns at least &600 from an online platform like eBay, Etsy, Venmo, and cash app

Internal Revenue Service announced that this rule will be delayed till next year

The 1099-K changes will be delayed for Smooth transition and clarity of taxpayer

This comes into consideration when E-commerce platform earns $20,000 amount from only 200 transaction

The $600 measure was to lower the gap of tax between taxpayers in America

The law is not for sharing a meal or a car ride or cost splitting between friends and family

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