2023 was going to be the first year in which people who earned at least $600 from online platforms like eBay, Etsy, Venmo and CashApp were required to file a tax return.
But right before Christmas, the Internal Revenue Service announced it wouldn't make e-commerce platforms send an income tax form known as 1099-K to businesses that earned at least $600 in 2022.
"To help smooth the transition and ensure clarity for taxpayers, tax professionals and industry, the IRS will delay implementation of the 1099-K changes," acting IRS Commissioner Doug O'Donnell said in a statement published Friday.