Browsing Tag

Venmo

Insights on the New IRS ‘$600 Rule’ for Freelancers: Managing Income from PayPal, Venmo,…

Clark Baisa Feb 26, 2024

In today's rapidly growing gig economy, more individuals are embracing side jobs, freelance work, and independent contracting as primary or supplementary sources of income. Facilitating this trend are online payment platforms like…

IRS Announcement: 1099-K Reporting Now Applies to Cash App, Venmo, Zelle, and PayPal

Clark Baisa Jan 14, 2024

In 2024, a significant shift in tax reporting is set to impact freelancers and individuals engaged in side hustles, particularly those relying on popular payment apps like PayPal, Venmo, Cash App, or Zelle. The long-anticipated 1099-K…

IRS delays reporting requirements for gig work taxes!

Rose Dec 28, 2022

The IRS stated it's miles delaying a debatable requirement, by 12 months that might have brought about extra online dealers and gig employees having earnings stated to the nation's tax agency. The rule could have required fee structures,…

IRS alerts citizens to the $600 threshold for reporting payments made via PayPal, Venmo, and Cash …

anthony Dec 12, 2022

vThe IRS is alerting Americans that payments made through third-party payment networks like Venmo, PayPal, Cash App, and others that total $600 or more must be reported to the IRS and included in 2022 tax returns. You Should Report Your…

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