There’s a New Tax Rule for U.S. Small Business Owners

The IRS will look into the digital payment service accounts of small businesses, freelancers and independent contractors. . . . Let’s suppose you’re a small business owner or freelancer, and you get paid from a digital payment service like PayPal, Venmo, Zelle, Cash App or any third-party settlement provider that’s accepting credit cards on your behalf and putting money into your bank account.

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