IRS Is Cracking Down On Digital Payments

IRS Is Cracking Down On Digital Payments

Assessment

Interactive Video

Business

9th - 10th Grade

Hard

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The video explains new reporting requirements for electronic payment apps like PayPal and Venmo. Transactions totaling over $600 annually for goods and services must be reported to address unpaid taxes. However, personal reimbursements among family and friends are exempt from this requirement.

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What new insight or understanding did you gain from this video?

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