Do u have to pay tax if you receive money
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Hi @Wallayu72.
Thank you for your post.
I see that you would like to know about the tax for receiving payments. We charge you a small fee when receiving a payment for a sale. There are no fees for receiving personal payments. If you are referring to taxes for receiving Goods and Service payments, I would like to inform you that beginning January 1, 2023, the Internal Revenue Service (IRS) implemented new reporting requirements for payments received for goods and services, which will lower the reporting threshold to $600 USD for the 2023 tax season, from 2022’s threshold of $20,000 USD and 200 transactions. For more information, please visit the link.
Thanks and Regards,
TasleemaJ
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