"The agency on Tuesday posted an explainer warning American business owners earning $600 or more per year on payments that are received through apps such as Zelle, Cash App, Venmo, and PayPal PYPL, -0.83% to file a tax form known as Form 1099-K.
The IRS is interested in transactions involving part-time work, side gigs, and selling goods, according to the agency."
I've been working on a graphic novel with an artist since last year but thankfully have been sending him more frequent ~$450 payments, not less frequent $600+. This IRS warning would apply to a situation like that.
https://www.marketwatch.com/story/irs-warns-americans-over-600-threshold-to-report-venmo-paypal-payments-11669480433
"The agency on Tuesday posted an explainer warning American business owners earning $600 or more per year on payments that are received through apps such as Zelle, Cash App, Venmo, and PayPal PYPL, -0.83% to file a tax form known as Form 1099-K.
The IRS is interested in transactions involving part-time work, side gigs, and selling goods, according to the agency."
I've been working on a graphic novel with an artist since last year but thankfully have been sending him more frequent ~$450 payments, not less frequent $600+. This IRS warning would apply to a situation like that.
Info on graphic novel?
real capitalist like me gonna report anything over one cent, that's how committed I am to the hustle
in case of an investigation... by the irs
i make under 10 grand a year pls dont investigate me like these other degens itt
suck my d*** IRS
real capitalist like me gonna report anything over one cent, that's how committed I am to the hustle
@IRS just state you hate women
Guys it’s only if you have a Business account
Read before you overreact