Etsy advised sellers to prepare for tax season, including reminding them to update account information if necessary. In its announcement on Tuesday, Etsy pointed to its informational post from November about IRS Form 1099-K, where it said it was required by law to report sales amounts to the Internal Revenue Service (IRS) for any Etsy seller in the United States who made $20,000 in sales and 200 transactions (or less for those who live in a state with a lower reporting threshold) for tax year 2023.
Etsy also linked to an article in its Seller Handbook on, “Your Guide to Meeting With a Tax Professional.”
Etsy said its customer support could help sellers with tasks such as correcting their taxpayer information, but it said it could not interpret tax laws or give specific tax advice.
Etsy also included an ad for TurboTax in Tuesday’s post (“When you’re ready to file, Intuit’s tax experts can help you easily file both your personal and business taxes with TurboTax Self-Employed. Visit TurboTax to learn more. Paid partnership. Terms apply.”).
