New changes to tax regulations mean that more users of popular payment apps like PayPal and Venmo could be required to ...

It was postponed, however, for a few years and then only partially implemented for tax years 2024 and 2025, when payment apps only had to report a person’s business transactions if they were ...

The “One Big Beautiful Bill Act” signed into law on July 4, 2025, makes two important changes to tax reporting requirements that should be of interest to employers. 1099 Reporting Threshold ...

People who earn tips and overtime wages will be able to get a new deduction, but a tax expert says workers should plan now to ...

GOP megabill looks set to end the $600 tax-reporting rule for Venmo, PayPal payments One supporter of a lower threshold for 1099-K tax forms says the issue could come back in the future due to the ...

Without any changes, for the 2025 tax year, the reporting threshold is $2,500. Starting in 2020, there was another yet change to Form 1099-MISC.

One of the tax reporting changes in the newly enacted tax-and-spending-cuts package repeals a more stringent requirement as to when payment apps like Venmo must issue 1099-K forms to users for ...

Finally, for the 2024 tax year, the IRS required that platforms - such as PayPal (PYPL) or its sister business Venmo - send out 1099-K forms reporting income if payments reached $5,000.

One of the tax reporting changes in the newly enacted tax-and-spending-cuts package repeals a more stringent requirement as to when payment apps like Venmo must issue 1099-K forms to users for ...