Beginning in January 2022, the IRS requires online payment tools such as Zelle, PayPal, and Venmo to report business income from the sale of goods and/or services in excess of $600. What are the details of this change and what are the implications? Find out in this week’s episode of FinCap Friday below:
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About the author
Yanely Espinal
Born and raised by Dominican immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before receiving her undergraduate degree from Brown University in 2011. As a member of the Teach For America Corps, Yanely taught third and fourth grades in Canarsie, Brooklyn. She received her master’s degree from the Relay Graduate School of Education in 2013. She spends her free time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also enjoys dancing, sewing, painting, listening to podcasts and babysitting her 7 future nieces and nephews!
This post FinCap Friday: New Tax Rules for Online Payment Tools
was original published at “https://www.ngpf.org/blog/fincap-friday/fincap-friday-new-tax-rules-for-online-payment-tools/”