F or many Americans who sell products online or use third-party payment platforms like PayPal, Venmo, or Cash App, new tax ...

If you're among the many Americans who sell goods online or utilizes third-party platforms such as PayPal, Venmo or Cash App, ...

GOP megabill looks set to end the $600 tax-reporting rule for Venmo, PayPal payments One supporter of a lower threshold for 1099-K tax forms says the issue could come back in the future due to the ...

Worth noting, however: Neither of the changes eliminates the requirement for small businesses, freelancers and contractors to accurately report all their earnings to the IRS on their own tax forms.

One of the tax reporting changes in the newly enacted tax-and-spending-cuts package repeals a more stringent requirement as to when payment apps like Venmo must issue 1099-K forms to users for ...

Finally, for the 2024 tax year, the IRS required that platforms - such as PayPal (PYPL) or its sister business Venmo - send out 1099-K forms reporting income if payments reached $5,000.