1099-K VS. 1099-NEC: What’s the Difference for 2025?
Introduction Do you receive payments from third-party settlement organizations (TPSOs) like PayPal, Venmo, and Zelle? If so, you’re likely familiar with Form 1099-K. In 2012, the IRS lowered the reporting threshold from $20,000 to $600, which meant more people received this form. However, Form 1099-NEC is another closely related form that you should be aware…