According to the New York Times, a new change in tax law may result in Form 1099s to be sent to some small time sellers for online sales.
- What was the aim of this new tax law?
- When did the law take effect?
- The law is part of which congressional action?
- Which online marketplaces and payment services will you most likely receive 1099s from?
- How does the law differ between 2021 and 2022?
Carrns, A. (2022). Did You Sell an Old Desk Online? You May Receive a Tax Form. The New York Times, Sep. 30 (Retrievable online at https://www.nytimes.com/2022/09/30/your-money/online-marketplaces-1099-k.html)