One of the simplest ways to avoid issues with Venmo tax reporting is to categorize your transactions correctly. Venmo offers two key labels: “Goods and Services” and “Send to a Friend.” These labels ...

Why it matters: Payments on platforms like Venmo and Paypal, as well as crypto assets, have specific reporting rules. Do I need to report crypto transactions on my taxes? The big picture ...

If you use third-party payment platforms, like PayPal, Venmo or Cash App ... earnings were already taxable so this is not a change in tax law, but rather just a reporting change.

Fintech companies such as Venmo, PayPal, Zelle and Stripe make the process swift and safe through their mobile apps. Be aware that you will often need to pay income tax on your earnings.

Portland, OR, USA - Jan 5, 2022: Third-party payment apps now have to report transactions more than USD600 to the IRS.

Plaintiffs argued that this commercial sale of private data occurred without individuals’ knowledge or consent, violating California’s consumer protection and privacy laws. In August 2023 ...