~ Third Party Transactions, H&R Block
ObjectiveFor tax season 2023, a new law means new tax obligations for individuals and businesses receiving payments via third-party settlement organizations (TPSO). The threshold for these platforms to send Form 1099-K significantly dropped from $20,000/200 transactions to $600/1 transaction.
This change gave our team the opportunity to position ourselves as an expert, go-to resource.
Users + Audience
- Consumers: Any individual receiving income from digital platforms or TPSO (ex. Venmo, Facebook Marketplace, Ebay). Due to the lower threshold., most consumers will not be aware of the change and might be surprised to receive a 1099-K.
- Small Business Owners: Establishments that use TPSO who may or may not have previously qualified under the old regulations, but who will qualify this year with the lower threshold. Probably already aware of the rule but will need assistance navigating how it impacts next year’s taxes.
- Filer’s receiving more than one Form 1099-K
- One Form 1099-k including multiple types of income
Roles + RespolsiblitiesI was the main designer leading this project, ideating early concepts, presenting regularly to product managers and leadership, participating in collecting feedback from user testing and delivering final assets for production. I worked cross-functionally with our content and product partners.
- Required fields from the IRS form need to display any current income types (i.e., known Businesses, farms, or Rentals)
- We need a way to tell users that they need to create a form if it does not exist within their account
- Create a way to automatically jump users to that income type to enter information