News & Analysis as of

Reporting Requirements American Rescue Plan Act of 2021 1099s

Allen Barron, Inc.

"Selling Items Online? Is the IRS Watching?"

Allen Barron, Inc. on

Are you selling items online or receiving payment for goods and/or services on platforms such as PayPal, Venmo, eBay, Zelle, Etsy, or Cash App? Online platforms are the preferred method of shopping for most Americans. These...more

Cole Schotz

Form 1099-K Implementation for E-Commerce Platforms Delayed for 2023

Cole Schotz on

Under a new federal law enacted in 2021 (the “American Rescue Plan” or the “New Law”), Venmo, Pay Pal, Cash App, Etsy, eBay and other e-commerce platforms are now required to send individual users income tax Form 1099-K for...more

Davis Wright Tremaine LLP

Impacts of the American Rescue Plan Act for Businesses Using Peer-to-Peer Payment Platforms

Peer-to-peer (P2P) payment platforms, such as Venmo, PayPal, and Cash App, have become indispensable tools for both businesses and consumers. Businesses that use or accept P2P payments, particularly family businesses, need to...more

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