Tax question

As with all tax laws you need to be more specific on your ask. Venmo and other don't care or know what you are doing. If the transaction is over 600 buck you will get a 1099k for the total amount 600x?. Then you get to explain where the money came from and why. ie room mate paying there half of expenses are not taxed. But you will have to show they why.
Keep records are they will get you. 87k new IRS agents.

Thank you American Rescue plan. How is the stimulus check looking now.

That's not I'm anything I read. How far out for family and what is a friend.

I think I did read something about gifting to family. But the report didn't elaborate so if it's protected now it will still beI assume. But that is still going to require records. But the friends you cut grass for all over town is not going to work

FF or the Venmo equivalent is a selection when sending payment. The alternative is goods and services on PayPal. The benefit is there is no fee (and now no tax). The down side is you get very limited protection (no buyer protection, etc). The change is to tax services rendered and sale of items. It is not to tax you sending money for splitting a dinner. Otherwise, invest some money in check printing companies, because we are going to be going back old school.

The moving money from Venmo to your bank account will not trigger any tax events. The reasons for why you have money in your Venmo account will determine whether you owe taxes.

To add, whether that money sits in your Venmo account or bank account, the same tax event or non tax event has already been created.

I thought it was aggregate over $600 for the year rather than specific transactions.