the staff of the Ridgewood blog
Ridgewood NJ, beginning January 1, 2022 payment platforms ,PayPal, Venmo, CashApp and Zelle will be required to issue 1099Ks to any taxpayer who receives $600 or more for transactions tagged as “Goods and Services”. This is a change from our current state of affairs which requires 1099Ks to be generated only for $20,000 of gross revenue and 200 individual transactions of this type.
