A little secret to rock your YouTube subscribers
IRS changed 2024 tax reporting rules for payment apps like CashApp and Venmo
Yes, the IRS did change the tax reporting threshold for mobile payment app users. Beginning in 2025 (for the 2024 tax year), the IRS will send 1099K forms to anyone who collected more than $5,000 in income through payment apps during 2024. Originally, the agency said the threshold for reporting would be $600.
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