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I agree with this statement. I'm in the US. I'm just waiting for the moment that my Venmo and Zelle transactions are sent to the IRS and they want to start aski
by anoncoward111 8y ago
I agree with this statement. I'm in the US. I'm just waiting for the moment that my Venmo and Zelle transactions are sent to the IRS and they want to start asking me about my "income", aka splitting bills with friends.
- farazbabar 8y agoThis is already the case with 1099-K and even though the link at https://www.paypal.com/us/smarthelp/article/how-does-paypal-report-my-sales-to-the-irs-will-i-receive-a-1099-tax-statement-faq729 https://www.paypal.com/us/smarthelp/article/how-does-paypal-... refers to sales, the catch all mechanism is entirely driven by number of transactions and amounts which are easily attainable with an active social circle.