Say you throw your card down at brunch with friends and everyone pays you back via Venmo. Because of some changes to how the IRS collects income data from third party payment apps (Venmo, Zelle, etc.,), the IRS may mistakenly count that Venmo payment as income— and we definitely do not want that. Here’s the intel on this change, and what to do if this happens to you.
Here’s your new fav form (be sure you’re looking at the right form for the year in question): https://www.irs.gov/instructions/i1040sc
Encore: “We finally have some extra money. How should we spend it?” (Listener Intervention)
Originally aired 10.19.21 Today’s Money Rehabbers (AKA the best couple ever) have had some good news in the money department...