https://tax.illinois.gov/content/dam/soi/en/web/tax/research/publications/pubs/documents/pub-110.pdf Notice 2023-74 announced the delay of the new $600 Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023. Reporting will not be required unless the taxpayer receives over $20,000 and has more than 200 transactions in 2023. The IRS is planning for a threshold of $5,000 for tax year 2024 as part of a phase-in to implement the $600 reporting threshold); or • the payee has four or more separate transactions, and the cumulative total exceeds $1,000.
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