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Question 7 of 15. The American Rescue Plan Act of 2021 revised the required reporting...

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Accounting

Question 7 of 15.

The American Rescue Plan Act of 2021 revised the required reporting threshold for Form 1099-K, Payment Card and Third Party Network Transactions. What is the reporting threshold for Tax Year 2023?

O Gross payments for goods or services that exceed $400, and any number of transactions.

Gross payments for goods or services that exceed $600, and any number of transactions.

O Gross payments that exceed $10,000, and more than 100 transactions.

O Gross payments that exceed $20,000, and more than 200 transactions.

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