IRS cracks down on business owners who use cash apps
In a recent effort to collect taxes from business owners, the IRS cracks down on business owners who use cash apps such as Cash App, Venmo, and Square Cash. The agency is arguing that these services should be treated as taxable income because they are used to receive payments for goods and services. Businesses that have been targeted by the IRS have been sent letters asking them to provide documentation proving that the money received through their cash app was not for income earned from their business. Read on to find out more about why the IRS cracks down on …
IRS cracks down on business owners who use cash apps Read More »