Tag Archives: paypal
IRS Announces Delayed Implementation of Third-Party Threshold
The Internal Revenue Service (IRS) has announced a delay in the implementation of the $600 reporting threshold for third-party payment platforms. This threshold pertains to Form 1099-K, which is used to report certain types of payment transactions to the … Continue reading
Posted in Blog, News & Articles
Also tagged advisory, dsj, IRS, tax, threshhold, venmo
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Early Filers Should Wait on Submitting Tax Returns in 2023, IRS Says
If you are eager to file your tax return for the 2022 tax year in January or February, the IRS has a warning for you. There are some “key documents” you must wait for before you file in 2023.… Continue reading
Posted in Blog, News & Articles
Also tagged advisory, American rescue plan act, dsj, filing, return, tax, venmo
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IRS Reminder – Americans Earning Over $600 on PayPal, Venmo, or Cash App Must Report Earnings
As a result of the American Rescue Plan Act of 2021, people who use third party platforms such as Venmo, Cash App, or PayPal to collect payments for a business or hobby, must report payments of $600 or more to … Continue reading