If you're among the many Americans who sell goods online or utilizes third-party platforms such as PayPal, Venmo or Cash App, ...

Payment platform reporting tops Americans' tax concerns in 2025. Learn how changing IRS thresholds for platforms like Venmo ...

GOP megabill looks set to end the $600 tax-reporting rule for Venmo, PayPal payments One supporter of a lower threshold for 1099-K tax forms says the issue could come back in the future due to the ...

It was postponed, however, for a few years and then only partially implemented for tax years 2024 and 2025, when payment apps only had to report a person’s business transactions if they were ...

Finally, for the 2024 tax year, the IRS required that platforms - such as PayPal (PYPL) or its sister business Venmo - send out 1099-K forms reporting income if payments reached $5,000.

One of the tax reporting changes in the newly enacted tax-and-spending-cuts package repeals a more stringent requirement as to when payment apps like Venmo must issue 1099-K forms to users for ...