As the year wound down, the CEOs of eBay and Etsy called on US lawmakers to take action to help small-business owners who sell on their respective platforms, but each executive had his own priority.
For eBay CEO Jamie Iannone, it was concern over new tax-reporting requirements that will take effect when sellers file their income taxes in April for sales revenue received in 2022.
For the first time, sales by many casual sellers will trigger a notification to the IRS – called a Form 1099-K – due to a lower reporting threshold, Iannone said in a commentary published in Fortune.
