Falcon Tax Services

Happy Tax Season everyone! We are getting close to the tax season and I know many of you have questions about the new tax tule involving 3rd party payment networks such as Zelle, Venmo etc. Please read carefully and always visit the IRS.gov for additional questions.

Venmo, Cash App And Other Payment Apps To Report Payments Of $600 Or More If you receive $600 or more payments in total for goods and services through a third-party payment network, such as Venmo, Cash App, or Zelle, these payments will now be reported to the IRS. The new rule results from the American Rescue Plan signed into law in March 2021 and will mainly impact bu