83 Venmo, Paypal, Cash App must report payments of $600 or more to IRS ... The change was made when the American Rescue Plan was passed in March 2021 (thealteran.com) posted 2 years ago by xleb2 2 years ago by xleb2 +83 / -0 24 comments share 24 comments share save hide report block hide replies
On the bright side all manner of THOTs are in for a big surprise when an audit springs out of the darkness and puts them in a choke hold.
Their wails and lamentations will be entertaining.
That makes my accountant minor me think, does Onlyfans issue 1099s? They have been around for a while, and have some very high earners on the site....
--edit-- Yep, Onlyfans has been issuing 1099s the whole time, and users are self employed, so they get absolutely bent over by taxes. :D