Urgent! Don't get caught off guard! Watch now to learn how new taxes on Venmo and Cash App will affect you and what you can do to prepare!

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Starting in 2022, the IRS will require Venmo, Cash App, and other similar apps to report transactions exceeding $600 per year to the IRS. This means that users may be required to pay taxes on transactions such as payments received from friends or sales of goods and services. It is important for users to keep track of their transactions and report any taxable income on their tax returns to avoid penalties and interest charges.

Disclaimer:
The content of this video is for informational and entertainment purposes only and should not be considered as financial or investment advice. Any financial decisions you make should be based on your own research and consultation with a licensed financial professional. The creators of this video and its contents will not be held liable for any financial losses incurred as a result of following the information provided in this video. Always conduct your own due diligence and seek professional advice before making any financial decisions.

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