IRS DELAYS $600 Tax Rule For Venmo, Cash App, & PayPal | 1099-K Update For 2024

The IRS has postponed the implementation of the $600 reporting threshold for third-party payment platforms such as Venmo, Cash App, and PayPal, as well as online marketplaces including Facebook Marketplace, eBay, and Etsy. In this video, we provide a comprehensive overview of the IRS's latest decision. Additionally, we explore various 1099 forms that you might encounter during this tax season.
#irs #news #taxes

➡️Looking for tax preparation help? Contact us!
https://bit.ly/3RqruQ8

In this video, we break down:
IRS delays $600 reporting for Venmo, Cash App, & PayPal
What a 1099-K form is
Other 1099 forms you may see this tax season

⏱ Timestamps ⏱
00:00 IRS DELAYS $600 Rule
02:01 Reporting Requirements
04:43 What Happens If You Don't Report
06:17 Other 1099 Forms You Might Get
07:55 Final Thoughts

➡️Follow Us!
Twitter:   / gordonlawltd  
Facebook:   / gordonlawltd  
Instagram:   / thegordonlawgroup  
TikTok:   / cryptolawteam  

The information contained in this video, as well as any linked articles, videos, or posts, is intended for general informational and educational purposes only. This information is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Viewers should not rely upon any information contained within for legal advice, and should seek legal advice before taking any action with respect to the matters discussed herein.

Commenting or interacting with this video does not create an attorney-client relationship. Messages or other forms of communication that you transmit to Gordon Law Group will not create an attorney-client relationship and thus information contained in such communications may not be protected as privileged or confidential.

This material may be considered an attorney advertisement.
00:00 IRS DELAYS $600 Rule
02:01 Reporting Requirements
04:43 What Happens If You Don't Report
06:17 Other 1099 Forms You Might Get
07:55 Final Thoughts

#cashapp #venmo #paypal #irsnews #600 #taxtips