Note: these are parts of an article written by Dave Elias two days ago for CBS)

If you currently use cash transfer apps like Venmo, Zelle, or Paypal you’ll want to pay close attention to yours accounts starting next year.

A new rule says once you earn up to $600 a year, the IRS wants its share of the taxes.

Whether you’re paying the dog walker or the hairdresser using the cash apps, soon all your little transactions could be under the watchful eye of Uncle Sam.

FGCU Constitutional Law Professor Dr. Pamela Seay predicts legal challenges.

This new rule goes into effect January 1, 2022.

Tax experts say the best advice is to keep track of everything you spend.

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1 Comment

Debi Willis · October 11, 2021 at 2:55 PM

Grrrrrrrr. But the IRS does NOT have the “ resources” to go after “ really wealthy” people.

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