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IRS delays $600 reporting rule for users of payment apps like Venmo

Por: WPTV Business November 22, 2023

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Users of Venmo, Cash App and other payment apps will get a tax reprieve this year. The IRS announced Tuesday it will delay implementing new reporting requirements that were to take effect for the upcoming tax filing season.Originally, app users who made $600 or more selling goods and services would have been required to report those transactions to the IRS, a new threshold required by the American Rescue Plan passed in March 2021.Instead,... + full article



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