“The IRS reminds Americans earning over $600 on PayPal, Venmo, or Cash App transactions to report their earnings”
December 5, 2022
“If you use third-party payment platforms, like PayPal, Venmo or Cash App, to collect payments for your side gig or business, the Internal Revenue Service (IRS) wants to remind you to report payments of at least $600.
This rule is aimed at individuals who run a side hustle, small business or do part-time work. So if you’re just sending money to friends for a restaurant bill or a vacation, or collecting a one-time payment for selling something online, this won’t apply to you…”
https://www.cnbc.com/select/irs-americans-over-the-600-threshold-on-payment-apps-must-report-it/
Because record tax revenue isn’t good enough they have to crush you, the little guy. People are going to find out soon enough. It’s time to start paying attention.