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Stock impact report

1099-K IRS Tax Delay: What Last Minute Filers Who Use PayPal and Venmo Need to Know [CNET News]

PayPal Holdings, Inc. (PYPL) 
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Company Research Source: CNET News
If you haven't filed your taxes yet this year, you have until midnight on April 15 to submit your tax return. If you received any freelance income this year through PayPal, Venmo, Cash App or Zelle, you might be confused about what the 1099-K changes mean for your current tax return. Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require third-party payment apps, like PayPal , Venmo, Cash App or Zelle , to report income of over $600 or more per year to the tax agency . But the IRS has delayed this new reporting requirement . So if you were waiting on a 1099-K to file your tax return -- you may not be getting one. In November last year, the IRS announced it would delay the rule for the second year in a row. Why? Distinguishing between taxable and nontaxable transactions through third-party apps isn't always easy. For example, money your roommate sends you through Venmo for dinner is not taxable, but money received Show less Read more
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