Irs $600 Dollar Rule 2025. By lowering the threshold to $600 and notifying the irs after one transaction is. For the 2025 filing season (which includes transactions completed in 2024), the new reporting threshold will be $5,000 in business transactions to help phase in the $600 reporting threshold.
Here’s what you need to know. The irs 600 dollar rule was introduced as part of the american rescue plan of 2021, marking a significant shift in tax reporting requirements for gig workers.