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nothlit t1_j255rmk wrote

I would venture to guess that the average person has no idea what any of this is about. Based on the posts here over the last year, people’s understanding of this new 1099-K rule tends to be something along the lines of “if my friend Venmos me $600 (regardless of the reason) I have to pay taxes on it.” They don’t understand that it only applies to goods & services payments, and that the amount reported may not be entirely taxable, so they hear about this delay and they are relieved because they get to put off figuring it out until a year from now when they will all start to panic once again.

> even if you don't get a 1099k sent to you, you are still supposed to file taxes on all your sales

A lot of people are under the mistaken impression that if they don’t get a 1099, then they can get away with not reporting the income.

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