Taxpayer Beware: MAJOR Tax Change for 2022

Do you use Venmo, Zelle, or cash apps in general? Well, the IRS has issued a new regulation to allow them access to transactions of $600 or more of aggregate dollars a year. Before this, the threshold was $20,000 or more and 200 or more transactions. When you start dropping the amount to $600, you are talking about babysitters, handymen, and regular everyday people.