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Reporting Requirements PayPal

Allen Barron, Inc.

Do You Have to Pay Taxes When Selling Goods or Services Online?

Allen Barron, Inc. on

We are often asked if one has to pay taxes when selling goods or services online.  That question became even more relevant this week when the IRS postponed the new “$600 Rule.” This is a particular relief for those wo receive...more

Weber Gallagher Simpson Stapleton Fires &...

What to Know About Reporting Apple Pay, Venmo and Cash App Transactions

Weber Gallagher’s Family Law Group often reviews payments made through popular mobile apps, including Venmo and Apple Pay, in discovery and for support purposes. Clients who utilize one of the many mobile payment platforms...more

Weber Gallagher Simpson Stapleton Fires &...

Apple Pay, Venmo, and Cash App Must Now Be Reported to the IRS

Weber Gallagher’s Family Law Group often reviews payments made through popular mobile apps, including Venmo and Apple Pay, in discovery and for support purposes. Clients who utilize one of the many mobile payment platforms...more

Bowditch & Dewey

Postscript on Increased Reporting to the IRS for PayPal, Venmo, Third-Party Payment Networks

Bowditch & Dewey on

As we wrote in December, third-party payment networks, such as PayPal and Venmo, must report to the IRS any transactions for goods or services in excess of $600 starting this year. The House’s Build Back Better Proposal would...more

Kohrman Jackson & Krantz LLP

New Tax Rule Changes Reporting Requirements For Venmo, Paypal, Cash App

A new tax rule will see the Internal Revenue Service (IRS) gain information on income small businesses receive via transactions on popular payment applications. As of Jan. 1, 2022, businesses that accept more than $600 per...more

Bowditch & Dewey

Increased Reporting to the IRS Required for PayPal, Venmo, Third-Party Payment Networks

Bowditch & Dewey on

Small businesses take note: Starting January 1, third-party payment networks, such as PayPal and Venmo, must report to the IRS any transactions for goods or services in excess of $600. Under current law, such “third party...more

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