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Venmo taxes: New IRS rules for 2023 and 2024

January 18, 2024

You owe taxes if you use Venmo for work or selling items for a profit, but the IRS has delayed implementation of a new $600 reporting threshold.

United States Revenue Service Internal Revenue Service American Rescue Plan Cash App Payment Platform

Source: yahoo.com

Venmo Tax Reporting, The IRS, and 1099-K Forms

December 19, 2023

IRS new rules for reporting business income through digital payment services has left many taxpayers with questions. Here are the answers!

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Source: smallbiztrends.com

App payment confusion causes IRS to delay $600 sales reporting threshold — again

November 21, 2023

Taxpayers and gig workers who use apps such as Venmo and Paypal to make money selling personal goods and services don’t have to worry about the new $600 threshold for reporting sales on form 1099-K to the IRS this year. Confusion about the new rule among taxpayers and payment companies, along with operational problems relating…

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Source: yahoo.com