You sold an old couch on Facebook Marketplace and got paid through Venmo, or you sold last season's clothes on Poshmark. You thought that was the end of it, until an unexpected tax form arrived in your mailbox: a 1099-K. What is it, and do you actually owe taxes? Even if you're not running a business, these forms can land in your mailbox, and with them comes a new set of reporting responsibilities. Understanding how Form 1099-K works, what the IRS expects, and what's actually taxable can help you stay ahead of any surprises during tax season.

The last thing anyone wants is a letter from the IRS. For small business owners, though, it's not just a nuisance; communication from the IRS can bring with it very real stress, anxiety, and disruption to your daily operations. Fortunately, being aware of and understanding what might prompt an audit sets you up with a better chance of avoiding unnecessary attention in the first place. If you're a small business owner in D.C. or the surrounding area, here's what you should know about the most common IRS red flags and how to steer clear of them.

No one likes to think about being audited by the IRS. If you’re a small business owner and have concerns about the possibility of being chosen for an audit, take a deep breath and read on. Being aware of what triggers an audit enables you to be proactive. Here’s how to avoid a tax audit for your small business.