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Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...
The 1099-K form reports payments for goods and services received from credit cards, mobile payment apps, online marketplaces, auction sites, ride-hailing apps, crowdfunding sites and more.
If you've received at least $600 from apps like PayPal and Venmo, you'll get a 1099-K form. However, that doesn't mean you have to pay taxes on all of that income.
The U.S. government passed legislation for 2022 as part of the American Rescue Plan Act that forces online payment platforms like Venmo, PayPal, Stripe, and Square to report all aggregate business ...
More than 169 million payments worth about $400 billion have been sent out by the IRS since Congress passed the American Rescue Plan stimulus relief bill in March. See: Fourth Stimulus Checks ...
If you use PayPal, Venmo and other third-party payment networks, then you might get a 1099-K form from the IRS. This form reports transactions from third-party payment networks. And depending on ...
A check from the Internal Revenue Service is set to make the end of the holiday season a little greener for one million taxpayers. About $2.4 billion worth of stimulus checks will be distributed ...
As of Jan. 1, mobile payment apps like Venmo, PayPal, Zelle and Cash App are required to report commercial transactions totaling more than $600 a year to the IRS.