The IRS is cracking down on digital payments. Here’s what it means for you

Payment app providers will have to start reporting to the IRS a user’s business transactions if, in aggregate, they total $600 or more for the year. A business transaction is defined as payment for a good or service.

Prior to this change, app providers only had to send the IRS a Form 1099-K if an individual account had at least 200 business…

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FA Cup highlights: Dagenham & Redbridge 0-1 Salford City

How Data Is Reshaping Real Estate