There were more than 200 transactions in all.
The total value of transactions surpassed $20,000
The American Rescue Plan Act of 2021 (ARPA) modified those requirements, decreasing the reporting level for third-party networks that process payments for businesses.
For tax year 2022, a single transaction worth more than $600 may necessitate the issuance of a 1099-K by the third-party platform. As a result of this move, plenty more taxpayers will get 1099-Ks.