IRS tells payment apps to report business transactions over $600

Jan 7, 2022
The threshold used to be much higher.
As the number of self-employed workers expands, the IRS is requiring online payment platforms like PayPal to report transactions greater than $600. The threshold used to be $20,000.
Eric Piermont/AFP via Getty Images
Physical bank branches are good for building relationships with customers whom the bank hopes will buy more services over time.
Andrew Caballero-Reynolds/AFP via Getty Images

P2P payment apps are booming, thanks to the pandemic

Mar 15, 2021
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
Consumers are using peer-to-peer apps for investing and other purposes beyond receiving payments.
PayPal

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