IRS Is Cracking Down On Digital Payments

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IRS Is Cracking Down On Digital Payments

By Newsy Staff
November 10, 2021

November 10, 2021

Electronic outgo apps volition present person to study transactions totaling much than $600 a year.

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The IRS could beryllium looking much intimately astatine your accounts if you usage PayPal oregon Venmo for concern transactions.

Electronic outgo apps volition present person to study specified transactions if they full much than $600 a year.

That includes payments for goods and services.

The alteration is designed to ace down connected unpaid taxes, but this doesn't impact reimbursements among household and friends.