Part 6/10:
2025: The threshold was lowered further to $2,500.
2026 and beyond: The original $600 rule was slated to return.
But, because the legislation overrides these transitional policies, the $20,000 / 200 transactions rule is expected to be the standard permanent rule. Still, there is some uncertainty about whether the IRS will maintain the transitional thresholds for 2024 and 2025 or fully revert to the higher standard immediately. It’s likely that guidance will be clarified soon, and taxpayers should stay alert for updates.