Freelancers can prepare now for new 2023 tax reporting

By CORA LEWIS
Associated Press

NEW YORK (AP) — If you receive payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change next year. The law will not affect the amount of taxes owed, but will simplify form requirements. Those in the space say it will benefit both freelancers and the IRS, by improving information gathering, especially for people who are self-employed and for small business owners who operate on sites like Etsy and Ebay.