The Internal Revenue Service is warning Americans that they need to prepare to report transactions of at least $600 per year through 'third-party' payment processors such as Venmo and PayPal. In a notice posted Tuesday to irs.gov, businesses and the self-employed are warned that cumulative income of at least $600 per year through apps - which also include Zelle and Cash App - will need to be reported on a tax form known as 1099-K, according to Marketwatch. https://www.zerohedge.com/political/irs-warns-americans-report-annual-paypal-venmo-transactions-exceeding-600