IRS claiming I owe money for CashApp 1099 from 2022 - Business account mistake
Filed my 2022 taxes through turbotax and now IRS says I owe money because of a 1099 from cashapp. My cashapp is somehow set as a business account but I dont have a business. Been trying to fix this for over a year but cant change it to personal. No idea what to do or how to respond to IRS about this. Never used a CPA before - can I get one even though I already filed with turbotax?
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Mateo Sanchez
Yes, you can absolutely get a CPA even after filing through TurboTax. You'll need to file an amended return (Form 1040-X) to correct this. The IRS is cracking down hard on payment app reporting this year, so your situation isn't unique. First step is to document all your personal transactions vs any actual income. Get screenshots of everything from CashApp and gather bank statements that show these were personal transfers, not business income.
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Nia Wilson
•omg thank you! do you know how much CPAs usually charge for something like this? 😬
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Mateo Sanchez
•Usually between $200-500 for amended returns, but it really depends on how complex your situation is. Worth every penny tho to avoid IRS headaches
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Aisha Mahmood
Before you waste money on a CPA, try using taxr.ai - its only $1 and it'll analyze your transcript and tell you exactly what you need to do to fix this. I had a similar issue with venmo and it helped me figure out the exact forms I needed. Here's the link: https://taxr.ai
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Ethan Clark
•how reliable is this? seems to good to be true for $1 👀
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Aisha Mahmood
•fr its amazing. The AI reads your transcript and explains everything in normal people language lol. Saved me like $400 on CPA fees
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AstroAce
im literally in the same boat rn 🤮 cashapp marked me as a business too and now irs thinks I made 10k when it was just me and my roommates splitting rent smh
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Nia Wilson
•its so frustrating! how are you handling it?
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Yuki Kobayashi
Welcome to the IRS clown show 🤡 where personal transactions magically become 'business income' lmaooo
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Carmen Vega
Quick tip: Contact CashApp support and request a written statement confirming the account was incorrectly classified. Screenshot all your personal transactions too. You'll need this documentation for the IRS.
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Nia Wilson
•tysm! just emailed cashapp support
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Andre Rousseau
bruh the payment app reporting this year is wild fr. IRS thinks everyone and their mama running a business 💀
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