If you haven’t filed your taxes yet this year, you have until midnight on April 15 to submit your tax return. If you received any freelance income this year through PayPal, Venmo, Cash App or Zelle, you might be confused about what the 1099-K changes mean for your current tax return. This story is part … Read more
Tax season is in full swing. If you’re waiting on a 1099-K to file your tax return — you may not be getting one. Since the IRS has delayed launching its new 1099-K reporting requirement, self-employed workers can expect 1099-NECs from clients, but are unlikely to receive them from third-party apps. This story is part … Read more
Tax season is officially underway, and if you’ve been waiting on a 1099-K to file, listen up. A lot of taxpayers who’d expected to receive a 1099-K won’t be getting one. That’s because the IRS decided to delay rolling out this new tax reporting requirement. This story is part of 12 Days of Tips, helping … Read more
The IRS plans to finally implement its new 1099-K reporting requirement this year. That means anyone who receives $5,000 or more in income via third-party payment apps such as PayPal, Venmo, Cash App or Zelle in 2024 will receive a 1099-K next year. Originally slated to take effect in 2022, this IRS reporting change will eventually have payment … Read more
After two years of delays, the IRS plans to finally implement its new 1099-K reporting requirement for anyone earning income via third-party payment apps like PayPal, Venmo, Cash App or Zelle. Originally slated to go live in 2022, this IRS reporting change would have payment apps report income over $600 to the tax agency. Previously, third-party apps … Read more
Amazon is dropping Venmo as a payment option next month, the PayPal owned mobile payment service announced on its website. The official announcement comes as Amazon notified users last night via email that Venmo will no longer be accepted on Amazon.com starting January 10, 2024. Amazon will still, however, accept Venmo debit and credit cards. … Read more
Last month, the Internal Revenue Service announced it would delay a tax reporting law requiring third-party payment services like PayPal, Venmo, Cash App or Zelle to report earnings over $600 to the IRS. This rule applies only to income receive through payment apps and not money sent to friends and family. The tax rule was also delayed … Read more