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PayPal, Venmo, Zelle IRS Reporting

As of January 1, 2022, platforms like PayPal, Venmo, and Zelle will be required to report transactions to the IRS and issue 1099-K to the taxpayer when there are commercial transactions of $600 or more. Small business owners, which are the predominant taxpayer groups that are impacted, are already required to report the income they […]

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