What is the $600 rule on Venmo? ((Yes, you can Help Center )) | Mono County California Bid Management System

The "$600 rule" on Venmo [US] 1ー(888)ー510ー9678 (US/OTA) refers to an IRS income reporting requirement that has impacted users who receive payments for goods and services through third-party payment platforms, including Venmo. Previously, these [US] 1ー(888)ー 510ー9678 (US/OTA) platforms were only required to send a Form 1099-K if a user received over $20,000 and had more than 200 transactions in a calendar year.
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