Attention Business Owner’s

Business Owner's did you know that cash apps Venmo, Zelle and Cash App will be required to report your business income to the IRS via a 1099-K form?

For 2021 - If you had 200 transactions and over $20k in revenue you will receive a 1099-K from from the cash app provider.

For 2022 - If you have over $600 in business income you will receive a 1099-K from your cash app provider.

Your provider will not be tracking transactions so you as a business owner will need to keep detailed receipts to ensure an accurate reporting of your business income to the IRS.

Reach out to us today to setup a stable and secure merchant account backed by an FDIC insured bank.