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IRS hits brakes on Tax law that would have hurt average Americans
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IRS delays tax-reporting rule on Venmo, PayPal payments over $600
IRS delays controversial tax reporting rule on third-party payments over $600 The IRS announced on Tuesday that it is delaying a controversial tax reporting requirement targeting Americans who made more than $600 online through third-party payment apps like Venmo or PayPal. The rule change – approved by Democrats in March 2021 with the passage of the American Rescue Plan – would have required payments platforms, including Venmo, PayPal, Etsy and Airbnb, to send Form 1099-K to the IRS and users if their transactions totaled more than $600 over the course of the year. https://www.foxbusiness.com/money/irs-de...yments-600 We show less advertisements to registered users. Accounts are free; join today! |
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