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Third Party Apps and Your Taxes: Info Session
May 12, 2022 @ 5:00 pm – 6:00 pm UTC+0
If you are a small business owner or freelancer, and you get paid from a digital payment service (ex. PayPal, Venmo, Zelle, Cash App) or any third-party settlement provider and that amount is more than $600 in total in 2022, you will be expected to pay taxes on that revenue.
Your payment service is required to report this revenue to the IRS. This means that whether you’re selling products or services on Amazon, Etsy, eBay or at craft shows or just face-to-face, you can now expect to receive a 1099-K form, which you need to account for on your 2022 tax filing.
This may all sound overwhelming and confusing, but the NYC Department of Small Business Services‘ NYC Business Solutions Queens Center is inviting you to learn about this new law and bring your questions to our session.