If you've received at least $600 from apps like PayPal and Venmo, you'll get a 1099-K form. However, that doesn't mean you have to pay taxes on all of that income.

The Internal Revenue Service is reminding tax filers to prepare to report transactions of at least $600 that are made through so-called “third-party” facilitators such as Venmo and PayPal.

Payment apps including Venmo, PayPal, and Cash App report business transactions to the IRS. Users with $5,000 or more in payment-app income for 2024 will get a new tax form, 1099-K.

If you earn money from selling products or services through a third-party provider, like PayPal, you must report that money to the IRS. Learn how to fill out a PayPal 1099. While there are multiple ...

However, the IRS underscored that personal transactions, such as repaying a friend for a shared meal, aren't meant to be tracked by the now-delayed rule on reporting $600 in side-gig income.

A change to the tax code could will soon require income made over $600 on third parties like eBay or paid through Venmo be reported to the IRS.

Under the American Rescue Plan of 2021, taxpayers would need to report payments for goods and services over $600 received through those third-party services through the Internal Revenue Service ...

The IRS's decision to lower the reporting threshold is part of a broader effort to capture more taxable income from the gig ...

IRS delays gig-tax filing rule for side hustles earning at least $600. 2022 1099-K reporting limits revert to $20,000 on 200 transactions.

IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. Here’s what went wrong. Efforts to raise the threshold were not ultimately included in a year-end spending deal ...