IRS Introduces New Tax Rules for Ticket Resellers: What You Need to Know
Resellers of tickets must now comply with new IRS tax laws.
Venmo-like services require sellers who receive more than $600 to disclose their revenue.
In 2021, the IRS lowered the requirements for e-commerce platform reporting.
The new regulations have an impact on major events like Taylor Swift and Beyoncé tours.
This year, an unusually high number of ticket brokers were observed.
How to complete the 1099-K form and provide taxpayer information to Ticketmaster.
The 1099-K document is made available by Ticketmaster when tax season starts.
The "$600 rule" is applicable to a variety of payment options and online markets.