Here’s what happens when you use peer-to-peer payment apps like Venmo and PayPal to accept payments from your customers, according to the American Rescue Plan Act (ARPA) of 2021. We
Tag: Payment Facilitators
PayPal, Venmo & Cash App Must Report Transactions Of $600 Or More To IRSPayPal, Venmo & Cash App Must Report Transactions Of $600 Or More To IRS
Here’s why payment apps like PayPal and Venmo are required to file a Form 1099-K starting in 2022. Unlike the early 2000s, where tax reporting was somewhat unregulated, the early
A Guide To Understand Payment Facilitators: Who Are PayFacs?A Guide To Understand Payment Facilitators: Who Are PayFacs?
Here’s everything you need to know about payment facilitators and their functions. The payment management ecosystem goes beyond what can be seen from the outside. A payment facilitator is the