Have you been paying the taxes on your Etsy sales and Airbnb income? Now the IRS has a way to find out.
For many, 2021 marked their first year—and now first tax season—in cryptocurrency. WSJ tax columnist Laura Saunders breaks down how to navigate reporting digital assets to the IRS ahead of Tax Day.Now that your 2021 taxes are done—or at least under way—it’s time to focus on a key tax change for 2022 affecting millions of Americans making money through platforms like eBay , Etsy , Airbnb , Venmo and Uber.
This change, which is beginning to ripple through e-commerce, tightens the tax reporting on income earned by people selling goods and services through online platforms. Starting this year, the platforms must send a Form 1099-K to the Internal Revenue Service reporting an individual’s total revenue if platform earnings top $600.
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