Why Do I Need To File A Form 1099-K?

Person holding a phone and showing they received an online payment

Get ready to adjust your tax preparation for the tax year 2023 if you were paid at least $600 through third-party payment services like Venmo or Zelle—you now need to declare such earnings with the IRS. So now if you use Cash App or Paypal regularly you could have to report it on your taxes.

M & M Tax Service: Tax Preparation and Services in South Carolina