How the new IRS 1099-K reporting rule for payment applications works

The Internal Revenue Service (IRS) is set to introduce a pivotal change in income reporting through third-party payment apps. Under the new 1099-K reporting rule, platforms such as PayPal ... Read More

What Payment Apps Report to the IRS? A Comprehensive Guide for 2025

Note that if you sold a personal item at a loss, it's not tax deductible. This reporting rule isn't entirely new ... are not subject to IRS reporting by payment apps like Venmo, PayPal, and ... Read More

Use Venmo, PayPal? Why you're being sent a 1099-K this tax season

Here are how the new reporting rules ... payment apps or online marketplaces like eBay. If your transaction reaches a certain threshold, these firms are required to send you and the IRS a 1099 ... Read More

The IRS reminds Americans earning over $600 on PayPal, Venmo, or Cash App transactions to report their earnings

like PayPal, Venmo or Cash App, to collect payments for your side gig or business, the Internal Revenue Service (IRS) wants to remind you to report payments of at least $600. This rule is aimed at ... Read More

Do I have to pay taxes on Venmo, Cash App or PayPal transactions?

(NewsNation) — If you use payment apps like Venmo ... tax form if you meet a certain monetary threshold of business payments. IRS expands free tax filing program to new states After multiple ... Read More

IRS Updates 1099-K Guidance For Taxpayers Who Use Apps Like PayPal And Venmo

Portland, OR, USA - Jan 5, 2022: Third-party payment apps now have to report transactions more than USD600 to the IRS. Read More

Use Venmo, PayPal? Why you're being sent a 1099-K this tax season

Here are how the new reporting rules ... like Venmo or PayPal, which means Zelle’s different. It never takes possession of the money. Personal payments on these apps shouldn’t trigger a 1099-K because ... Read More