Could this be the death of Reverb?

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o0mobius0o

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Dear Reverber,

We’re writing to let you know about a new IRS reporting requirement for 2022:​
  • Beginning January 1, 2022, marketplaces like Reverb will be required to collect tax identification information from sellers who sell $600 or more on the platform in a calendar year.
  • This information is needed to ensure timely and accurate issuing of a Form 1099-K.
  • There’s nothing you need to do now, but we may ask you for tax identification information in 2022 if you hit the new $600 threshold.
Reporting your sales doesn’t necessarily mean you’ll need to pay income tax on your sales—it just means that you’ll be issued a Form 1099-K. You can learn more in our Help Center, which we’ll keep updated with the latest tax information. We’ll let you know if you need to take any action in 2022.

Thanks for being part of our community,

The Reverb team​
 

Gfunk_Minor

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I don't know why they are just now having to do this....
My company has had to issue 1099's for anyone we pay over $600 to for over 20 years.
 

HRC

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I got a email from PayPal a couple months ago saying the same thing. :mad:
 

VictorB

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We already have a thread about this.
 
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