If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may ...

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

Last year, the Internal Revenue Service announced a phased rollout of reporting requirements for businesses who receive at least some of their income through third-party payment apps.

If you use payment apps like Venmo, Cash App or PayPal for more than just splitting a bill, there could be some important ...

If you received more than $5,000 for online sales of “goods or services” in 2024, you might get a Form 1099-K. Don’t ignore ...

Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. More taxpayers ...

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year. Here’s why you might ...

But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.

Early results from the IRS indicate that 7.7% fewer tax returns were filed in the first two weeks of the 2025 season. Why are ...

The IRS is requiring third party payment apps to send you a 1099-K tax form if you made more than $5,000 on the platform in 2024. This reporting change will give the IRS a clearer picture of how ...