Initially, application end users who produced $600 or more promoting goods and solutions might have been necessary to report People transactions into the IRS, a fresh threshold necessary with the American Rescue Prepare handed in March 2021.
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WASHINGTON — End users of Venmo, Cash App along with other payment apps will get a tax reprieve this yr. The IRS announced Tuesday it is going to delay applying new reporting necessities which were to take influence for the approaching tax filing season.
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