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Reply to "So people will be taxed on venmo and zelle transactions?"
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[quote=Anonymous]Zelle says they won't be issuing 1099-k since the law does not apply to an ACH network. https://www.zellepay.com/faq/does-zelle-report-how-much-money-i-receive-irs https://www.cpapracticeadvisor.com/2022/11/18/zelle-is-being-used-by-small-business-owner/73295/#:~:text=But%20if%20you%20use%20third,in%20payments%20during%20the%20year. https://www.pymnts.com/taxes/2022/zelle-says-its-service-not-subject-to-irs-reporting/[/quote]
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