Générez Des Reçus Cash App Facilement Avec Notre Outil D'assurance Qualité

Cash app receipt generator for Quality Assurance

well if you can believe it we are already more than halfway through 2024 so that means we're about halfway through tax season of course WCNC shs Megan Bragg is verifying some changes we're going to see come next year and how you can start getting ahead now our source is Mark steber tax information officer with Jackson huitt tax services and the IRS in a time of electronics you probably use popular apps like zel venmo PayPal and others since their Inception people would fill out a $10.99 if they made more than $20,000 through those apps now for 2024 so they changed it last year for this year to $5,000 so if you got $5,000 of transactions business is what we're talking about here that will get a1099 issued to you and to the IRS this is one of the phases in the 2021 American Rescue plan it will eventually go down to a $600 reporting threshold so what if you were just splitting lunch and use a third party app to pay someone back personal activity loaning money sending money back and forth to your family even just splitting the lunch bill with your friends that's personal activity and that is not what is meant to be captured by this however because this is a new threshold steber says there may be some confusion when it's time to do your taxes so start planning and tracking now so there's probably going to be some startup changes you know that are going to get confusing information to the tax payer in the way of a a false 1099 but the IRS has already anticipated that and they have transactional correction measures if you do have any questions or you do get a 1099 when you don't think you should there are ways to work through it by talking with a tax professional with your verify I'm Megan [Music] brag folks if there's something you want us to verify all you got to do email us at verify wcnc.com