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No, the IRS Isn’t Taxing Money You Send to Family and Friends on PayPal, Venmo or Cash App

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Third-party payment platforms will issue 1099-Ks for individuals who earned over $5,000 in income via payment apps last year. The IRS is finally moving forward with a new tax reporting rule that will require services like PayPal, Venmo or Cash App to issue tax form 1099-K to freelancers and side … 

Read More  CNET