Taxpayers Must Prepare to Pay Taxes on More Transactions Involving Venmo and Other Online Payment Apps by Savannah Cabrera Snow, CPA
Posted on February 24, 2025 by Savannah Cabrera Snow
If you accepted more than $5,000 in online business payments in 2024 for goods and services via platforms such as Venmo, PayPal, eBay, Airbnb and Cash App, the IRS expects you to pay taxes on those earnings come April 15, 2025. While the IRS has always considered these payments as taxable business income, many taxpayers […]