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Form 1099-K for South Bend Indiana: What You Should Know

Gig worker certification that is not provided has no adverse effect on the tax position of the gig worker. However, the IRS will still look very closely at the certification. If the gig worker does not file the Form 1099-K with a certification on his or her individual income tax return, then the IRS will take the position that any income on Form 1099-K would be taxed on a partner and not a partner for the purpose of deducting the expenses incurred  by the partner for the activity. This will result in more income tax due. If you are the gig worker, you should include certification on your IRS Forms W-9 and W-8BEN (if you are required) in conjunction with the Gig Worker Certification Letter. In the event that the Gig Worker Certification is not filed with your returns, please contact the Gig Worker Certification Supervisor. Hobby Farms and Other Businesses Doing Business as Farmers: The IRS May Require Form 1099-K to Report Payment Card and Third Party Transaction Information, Including Recent Updates Aug 27, 2023 — The IRS may require Form 1099-K to report payment card and third party transaction information, including recent updates, related forms, and instructions. May 10, 2023 — The IRS may require the reporting of payment card and third party transaction information, including recent updates, for all farmers who are engaged exclusively in farming operations that are considered an agricultural activity for the tax purposes of the Internal Revenue Code, as determined by the tax authorities of the United States. Form 1099-K is a form that all farmers must complete when they purchase or otherwise gain access to goods or services from one or more merchants. Merchants are often referred to as “gig” operations. Payment card processors and mobile payments companies require this form to provide information about their cardholders, and third party settlement organizations (parties that process and provide consumer payments and collect and pay third party transaction fees) collect and send Form 1099-K to the merchants, for information used to determine the amount of payment card transaction and third party network transaction fees associated with the purchase.

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