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Cash App Taxes 2025 (Tax Year 2024)


Published on 2025-01-04 19:41:20 - Yahoo
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  • Cash App Taxes is an authorized e-file provider that adheres to the IRS's business, privacy, and security standards. The company's safety measures include 128-bit or higher encryption, a dedicated on-site security team, independent third parties that monitor the site for vulnerabilities, and support for multi-factor authentication.

The article from Yahoo Finance discusses the upcoming changes to tax filing for Cash App users in 2025. Starting next year, Cash App will begin reporting user transactions to the IRS, aligning with new tax regulations. This means that any income received through Cash App, including freelance work, side gigs, or other payments, will be reported if it exceeds $600 annually. This change aims to increase tax compliance by reducing unreported income. Users are advised to keep meticulous records of their transactions, as these will now directly impact their tax obligations. The article also provides tips on how to prepare for these changes, such as understanding what income needs to be reported, keeping receipts, and possibly consulting with a tax professional to navigate the new requirements effectively.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/tech/cash-app-taxes-2025-tax-130000941.html ]