New Reporting Rule 1099-k for 2022
Today I received a message from Apartments.com requesting tax id information. Stated that starting in 2022 amounts more than $600.00 will be reported with 1099-k and failure to provide the tax id will suspend any future payments through their payment system. A couple of years ago I bought a house for my son to live in. The house is in my name and my son makes the payments to my bank through Apartments.com (formerly Cozy). I make no profit from the payments going into my bank account to repay cost i incurred to buy the house. I seen on the news the IRS is wanting to track banks accounts. But, unaware this was already in place. Should I comply or change payment arrangements?