1099-K IRS Delay: What PayPal, Venmo and Cash App Users Need to Know This Tax Season – CNET

If you earned money via Venmo, PayPal, Cash App, Zelle or another third-party payment app last year, listen up.

This story is part of Taxes 2024, CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund.

The IRS is not moving forward with its new 1099-K reporting requirement this tax season. If you were waiting on a 1099-K to file your tax return — you may not be getting one.

Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require third-party payment apps, like PayPal, Venmo, Cash App or Zelle, to report income of over $600 or more per year to the tax agency.