Afraid the IRS will tax your Venmo, PayPal or other payment app transactions? Here’s what you should do.


Beginning this 12 months, all third-party fee processors in america are required to report funds acquired for items and companies of greater than $600 a 12 months. The change was made to seize earnings made by gig staff and entrepreneurs with a aspect hustle. Up to now, firms have been solely required to ship an IRS Form 1099-K for gross funds exceeding $20,000 and greater than 200 transactions inside a calendar 12 months.



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Afraid the IRS will tax your Venmo, PayPal or other payment app transactions? Here’s what you should do.

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