The tax man cometh

December 3, 2024

🤑 The tax man cometh … later: The $600 reporting rule for apps like PayPal and Venmo is delayed yet again. This rule says apps owe you a tax form for annual incomes over $600. For another year, personal payments and small sales won’t result in a new tax form. Don’t smile yet; anything over $5,000 (like a car you sell online or your side hustle income), and you’ll receive a Form 1099-K.