If you sell through a marketplace or get paid through a payment app for goods or services, the form that may arrive is the 1099-K, and its federal threshold is the one that caused years of confusion.
The rule now
A payment app or marketplace (a third party settlement organisation) must file Form 1099-K only when both conditions are met for a payee in a year: gross payments over $20,000, and more than 200 transactions. Over means over: exactly $20,000, or exactly 200 transactions, does not cross the line. The One Big Beautiful Bill Act restored this test retroactively, repealing the $600 rule that was scheduled to apply.
Why so many articles still say $600
The $600 threshold was announced, delayed twice, and written about for years before it was repealed. Pages published in that period, and never updated, still state it as law. It never survived into force for these payments. If an article cannot tell you about the repeal, do not rely on it for this year’s filing.
Payment cards are different
When you are paid by payment card, the card network reports with no threshold at all. The $20,000 and 200 test belongs to payment apps and marketplaces, not to card transactions.
No form does not mean no tax
The threshold is a reporting rule for the payer, nothing more. Income is taxable whether or not a 1099-K is filed, and whether it is $500 or $50,000. Keep your own records either way.
States may be lower
Some states kept their own lower reporting thresholds for state purposes. This page states the federal rule; your state revenue department is the source for its own. The threshold checker answers your exact case by amount and transaction count.