NEW IRS $600 Tax Rule On Payments from PayPal, Cash App, Venmo & More!

Heard the rumors that the IRS is tracking your Venmo or Zelle payments? They're not just rumors anymore. In this video, I break down exactly what the new 1099-K tax reporting rules mean for you — whether you're sending gifts to family, selling on Facebook Marketplace, or receiving payments for side gigs.

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No fluff. No panic. Just clear answers to questions like:
Are Zelle and Cash App included?
What happens if you sell personal items at a loss?
Can you ignore a $700 1099-K?
Do gifts or roommate rent transfers count?

These rules impact millions of Americans in 2025 and beyond — and ignoring them could cost you. Watch until the end to protect yourself and your wallet.

TIMESTAMPS:
00:00 – IRS & 1099-K: What’s New in 2025
00:18 – Does Zelle Send 1099-K Forms?
00:28 – Selling at a Loss — Is It Taxable?
00:40 – Can You Ignore a $700 1099-K?
00:55 – Are Gifts From Grandma Taxable?
01:00 – Wrong Payment Tag? Here’s What to Do
01:09 – Are Tips Considered Business Income?
01:18 – Do One-Time Sales Trigger a 1099-K?
01:29 – Cash App = Same Rules as Venmo
01:39 – Do You Owe Self-Employment Tax?
01:51 – What If You Got a Form But No Payment?
01:59 – Is Splitting Rent With Roommates Taxable?
02:07 – Can You Avoid This With Checks?
02:17 – Are Chargebacks Counted Toward 1099-K?
02:26 – Hobby Income vs Business: Know the Difference
02:38 – Do States Report 1099-K Too?
02:44 – Will the IRS Lower the Threshold Again?
02:56 – How to Stay Safe: Easy Tips That Work

Leave your questions and comments below the video.

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Link to this video:    • NEW IRS $600 Tax Rule On Payments from Pay...  
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I’m Ella Rivkin—founder of ERPS Group, Inc., tax strategist, 10X Certified Business Coach, and real estate investor. For over 26 years, I’ve helped entrepreneurs, practice owners, and high-income earners turn their biggest financial goals into reality.

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This content is provided for educational and informational purposes only. It should not be considered financial, tax, or investment advice. Viewers should conduct their own research and consult with licensed professionals before making any financial decisions.

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