Venmo

Biden’s IRS targeting small business owners and the neighborhood kid

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WASHINGTON (AP) – In a recent report by the Government Accountability Office (GAO), the Internal Revenue Service (IRS) has revealed that it will be issuing 1099-K tax forms to approximately 30 million Americans for earnings made through popular payment platforms like Venmo and PayPal. This marks the first time the IRS will scrutinize transactions through … Read more

Taxpayers Beware: Apps Like Zelle, Cash App, and Venmo Will Trigger an Audit if Your Numbers Don’t Match

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Workers in the gig industry need to take notice of the new forms they will receive at the end of the year. The American Rescue Act, enacted in 2021 by a Democratic-majority Congress, significantly alters the taxation of Americans who are paid through third-party organizations. Cash App, Venmo, and PayPal are among the companies mentioned.