(KERO) — Anyone getting paid for their goods and services through apps like Venmo or CashApp just got a reprieve from the IRS.
The IRS announced on Friday, Dec 23 that it would delay the implementation of a rule change that would have resulted in a virtual paper chase of tax forms going out to anyone using apps for business transactions by Jan 31. The IRS has postponed it by a year.
The move follows concerns from the tax preparation community, the electronic transactions industry, and some lawmakers.
