Third-Party Payments Archives

Using Peer-To-Peer Payment Apps To Accept Payments From Customers? Here’s How It Impacts Your Business Tax Information ReportingUsing Peer-To-Peer Payment Apps To Accept Payments From Customers? Here’s How It Impacts Your Business Tax Information Reporting

July 21, 2022 | tax1099 | 0 Comment | 11:02 am

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

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

July 18, 2022 | tax1099 | 0 Comment | 1:25 pm

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

Are Venmo Payments Considered Income? Get All The Details HereAre Venmo Payments Considered Income? Get All The Details Here

July 15, 2022 | tax1099 | 0 Comment | 9:58 am

A simple guide to understand if third-party payments are considered income in the Form 1099-K payments context. Form 1099-K has been making rounds around the internet. Unlike Form 1099-NEC, Form

Tag: Third-Party Payments

Using Peer-To-Peer Payment Apps To Accept Payments From Customers? Here’s How It Impacts Your Business Tax Information ReportingUsing Peer-To-Peer Payment Apps To Accept Payments From Customers? Here’s How It Impacts Your Business Tax Information Reporting

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

Are Venmo Payments Considered Income? Get All The Details HereAre Venmo Payments Considered Income? Get All The Details Here