Worried About Reporting Venmo Income? You Don't Have to Deal With It This Tax Season

If you're someone who dines out frequently with friends, you may find that Venmo makes it easy to split those bills. Initially, the IRS was going to require payment apps like Venmo to issue tax forms for 2022 for users with $600 or more in payments for the year. Right now, payment apps like Venmo have to issue a tax form for anyone who receives total payments of more than $20,000 within the same year and also has more than 200 transactions.