The IRS Spares the Side‐Hustlers (For Now)

https://www.cato.org/blog/irs-spares-side-hustlers-now

Even the IRS realizes the $600 reporting requirement is a very bad idea and have delayed implementing the rule to enforce it by one year.

I think it is very likely that a bill to raise the reporting requirement from $600 to $5000 will pass with bipartisan support in this Congress, particularly given the IRS’s rather broad hint in punting the implementing rule to next year.

While it should go back to $20,000, raising it to $5,000 will remove the burden from a very large number of people.

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you’ll be surprised at how many 1099’s are issued this year