![]() ![]() "You and I go out to dinner and you pay for the whole check and I reimburse you on your Venmo for this totally personal expense," he said. Or, splitting the tab when dining out, he added. "People might be receiving government forms that look like income for nothing more than gifts going back and forth between family members." ![]() "That's probably the biggest concern," Tom O'Saben, EA enrollment agent and director of tax content at the National Association of Tax Professionals, told Yahoo Finance before the delay. The lower reporting threshold was intended to capture electronic cash incomes from side gigs, part-time work, or small businesses, but experts worried that many taxpayers would have received 1099-K for personal transactions that are not taxable. IRS delays the reporting requirement for 3rd-party transaction networks such as Venmo and Paypal. ![]()
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