*ACTION REQUIRED* by 10/11/22: Changes to U.S. Form 1099-K requires account updates to avoid payout delays.


Brent Whitten

Beginning January 1, 2022, the IRS threshold for reporting amounts on Form 1099-K is dropping from $20,000 and 200 transaction to $600. This means that any Hagerty MSR organizer who has processed $600 or more in registration fees during the 2022 year will be issued a 1099-K.

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