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As of January 1st, the IRS is requiring payment app providers to now issue you and the IRS a Form 1099-K on your business transactions if, combined, they total more than $600 a year when it used to be they only needed to do so if you had more than 200 business transactions in a year that totaled at least $20,000.

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IRS Will Be Taxing Venmo, CashApp and PayPal Payments  was originally published on kissrichmond.com