Tax Law and News

One Big Beautiful Bill: FAQs on Form 1099-K threshold

Written by Intuit Accountants Team
Modified Oct 23, 2025
1 min read

The IRS recently issued frequently asked questions in Fact Sheet 2025-08 regarding the dollar threshold for filing Form 1099-K, Payment Card and Third-Party Network Transactions, under the One Big Beautiful Bill.

The Bill retroactively reinstated the reporting threshold in effect prior to the passage of the American Rescue Plan Act of 2021 so that third-party settlement organizations are not required to file Forms 1099-K unless the gross amount of reportable payment transactions to a payee exceeds $20,000 and the number of transactions exceeds 200.

Form 1099-K is an IRS information return used to report certain payments to improve voluntary tax compliance. The requirement to file a Form 1099-K can be triggered when payments are received for goods or services through a payment settlement entity.

More information about reliance is available on IRS.gov.

Source: IRS

Previous Post

7 tax strategies for business owners earning $150,000+

The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us online or follow us on X, Instagram, Facebook, and LinkedIn. More from Intuit Accountants Team