IRS sending $17k bill for unreported CashApp income (2022) - Need help with verification!
Got hit with a $17k IRS bill today because of unreported CashApp transactions from 2022. They're charging penalties and fees for not providing the information. I've never had issues getting my refunds before and I'm freaking out they'll take my refund this year. Working on getting the CashApp records but dont know what else I should do
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Keisha Robinson
This is becoming super common with payment apps. The IRS is cracking down hard on unreported income from CashApp, Venmo, etc. First, download all your CashApp statements for 2022. Then separate personal transfers from business income. You can request a payment trace from CashApp for detailed transaction history. File Form 14157-A to dispute the penalties if you can prove these were personal transfers, not income.
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Yara Haddad
•how do I prove they were personal transfers? most of it was friends paying me back for stuff
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Keisha Robinson
•You'll need documentation - text messages, emails, receipts showing you paid for something they reimbursed you for. The more proof the better!
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Paolo Conti
Hey, I actually dealt with something similar recently. I used taxr.ai to analyze my transcript and it showed exactly what documentation I needed to resolve the issue. Cost me $1 but saved me thousands in penalties. Check it out at https://taxr.ai
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Amina Sow
•fr? does it actually help with payment app issues?
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Paolo Conti
•100% it does! It showed me exactly which forms to file and even gave me template language to use in my response to the IRS. Best dollar I ever spent ngl 💯
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GalaxyGazer
•just tried it myself and wow 🤯 wish I knew about this months ago
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Oliver Wagner
bruh the IRS is wylin with these payment app audits lately 🤡
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Natasha Kuznetsova
•fr fr they coming for everyone's cashapp 💀
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Javier Mendoza
Whatever you do, DONT ignore this notice! That's the worst thing you can do. The penalties will keep adding up
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Emma Thompson
im in the same boat! got hit with a 22k bill last week for venmo transfers that were literally just roommates paying rent smh
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Yara Haddad
•what are you doing about it? im so stressed
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Emma Thompson
•used taxr.ai to figure out my next steps and got all my documentation together. gonna fight it fs
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Malik Davis
Did you get a CP2000 notice? If so you have 30 days to respond before they make it official. Don't wait!
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