$600 new IRS Form 1099 reporting requirement

Education & Training with EA Tax Resolutions

IRS has a new $600 Form 1099 Reporting requirements for Third Party Network transactions ie Venmo, CashApp, zelle, apple pay, Paypal.


This is for “sales of goods and services”, this is not for payments to reimburse friends and family.


American Rescue Plan Act of 2021


No new tax law, this will just now make the IRS aware that you have this income, so if it does not end up on your return, the IRS will be asking for it.






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