IRS Again Delays Implementation of Rule to Report Over $600 in Payments on Venmo, Paypal, etc.
The IRS announced a second year of delays in implementing a 2021 law apps like Venmo, PayPal, and Cash App to send tax forms (1099-Ks) to users who received over $600 in the current tax year. The goal of this delay is to reduce taxpayer confusion and avoid sending an estimated 44 million 1099-K forms …