Venmo, Zelle, others will report ‘goods and services’ of $600 + to IRS


If you use third-party payment systems to get money, be on the lookout for a tax form impacting your 2022 tax year.

Companies like Venmo, Etsy, Zelle, Cash App and MRE will send users Form 1099-K for transactions done either by electronic means or mail, Forbes reported.

The change will mostly impact businesses, according to Mashable. Originally payments of $20,000 or more had to be reported, but this figure has been lowered to $600.


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