Hello, with tax season in full swing, I was wondering if the requirements for a 1099-k form from 2022 still apply to 2023? I know the IRS was planning to lower the requirement in 2023 but it got delayed to 2024. I could wait until the 31st to see but I’d like to know in advanced if the $20,000 and 200 order minimum still apply in 2023? Thanks!
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Shopify will send you a 1099-K directly, and also file it to the IRS on your behalf, if you earn over $600 in 2023.
It’s not a requirement to file but if your state requires it then you have to file. You can find out your state requirements on this website here https://stripe.com/docs/connect/1099-K
Hope this helps.