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

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

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.