The Consumer Financial Protection Bureau (CFPB) is warning consumers not to store money in nonbank, peer-to-peer payment apps such as Venmo, Paypal, and CashApp, because that money is not automatically insured by the government. A growing number of consumers prefer to make payments without cash and are adopting payment apps. More than three-quarters of U.S….
Don’t Store Cash in Venmo, PayPal, and Other Payment Apps, Financial Watchdog Warns
Venmo, PayPal and Zelle®: New Tax Reporting Rules
Venmo, Zelle®, and PayPal are familiar online payment platforms. They are peer-to-peer payment apps that allow you to transfer money. Some people use them to pay family and friends. Others use them to make business transactions. What are these payment apps, and when you use them, can your transactions be taxed? Increased Tax Reporting on Payment…
Venmo, PayPal Must Report Goods and Services Payments of $600 or Above to IRS
Third-party payment apps must report goods and services payments of $600 or above to Internal Revenue Service (IRS) starting from Jan. 1. The new rule will affect all main payment apps including PayPal, Venmo, Cash App, Zelle, Google Pay, etc. The amended reporting threshold is part of the American Rescue Plan (pdf) which was passed…
NTD Business Full Broadcast (Nov. 10)
The so-called transitory inflation is heating up. The CPI is at a 30-year high. What does it mean for small businesses? U.S. stock indexes see their first major down day in a month. Is inflation spooking markets or is something else at play? If your business is processing more than $600 of sales through Paypal…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`