The IRS is postponing a rule change for the second year in a row that would impact tax filers who receive business income via payment apps and online marketplaces. They include Venmo, PayPal, Etsy, Airbnb or others.
The change would have brought in 44-million more 1099-K forms in January to those filers, who would include small business owners, freelancers, and gig workers. The IRS said it’s delaying implementation yet again because of potential taxpayer confusion.