The U.S. government passed legislation for 2022 as part of the American Rescue Plan Act that forces online payment platforms like Venmo, PayPal, Stripe, and Square to report all aggregate business.
The IRS has a new rule for how freelancers and gig workers should report their income. It s on hold for now, but Next Insurance helps taxpayers prepare.
If you get paid through apps like Venmo or PayPal or platforms like Etsy or Airbnb, preparing your taxes next year may be a little more confusing than usual.
The IRS recently introduced a new rule, effective January 1, 2022, that required all third-party payment apps to report business earnings of $600 or more to the IRS with a 1099-K form. That means if.