IRS Will Enforce 1099-K Reporting Of Cash App, Venmo, Zelle, And PayPal Transactions
Steve DiGioia
JANUARY 11, 2024
IRS Implements 1099-K Reporting Requirement for Payment Apps in 2024, Targeting More Accurate Financial Disclosures In 2024, the IRS is set to implement the long-expected 1099-K revealing prerequisite for outsider installment applications, like PayPal, Venmo, Money Application, or Zelle. At first scheduled for 2022, this standard orders detailing profit more than $600 to the IRS; notwithstanding, announcing will apply just to pay surpassing $5,000 for the impending year.
Let's personalize your content