Thank you. I keep seeing memes like this but have never heard of anyone I know actually getting audited. I only got audited once when I completely forgot to include the income from a place I worked for a couple weeks, which is fair (and probably automated on their end considering they would’ve sent their withholding information to the IRS anyways)
https://www.irs.gov/newsroom/irs-announces-2023-form-1099-k-reporting-threshold-delay-for-third-party-platform-payments-plans-for-a-5000-threshold-in-2024-to-phase-in-implementation
https://www.irs.gov/newsroom/irs-announces-delay-in-form-1099-k-reporting-threshold-for-third-party-platform-payments-in-2023-plans-for-a-threshold-of-5000-for-2024-to-phase-in-implementation
https://www.irs.gov/businesses/understanding-your-form-1099-k
Here are some resources to counter this misinformation.
Thank you. I keep seeing memes like this but have never heard of anyone I know actually getting audited. I only got audited once when I completely forgot to include the income from a place I worked for a couple weeks, which is fair (and probably automated on their end considering they would’ve sent their withholding information to the IRS anyways)