The IRS currently requires any third-party payment apps like Cash App and Venmo to send a 1099-K to the IRS and individuals ...

What's more, while both apps say it can take several days to transfer money to a bank account, Thomson has had money from Venmo show up in 24 hours. However, from the business side, Paypal has its ...

meaning that business transactions that surpass $600 will trigger the 1099-K form, which Venmo, Paypal, Cash App and others will create. Unfortunately, paying taxes on payment app business income ...