The IRS is coming for your Venmo Charges
Nov 17, 2023, 14:49
by
Chip Beal
This week, I issued a letter to Speaker Johnson urging him to delay implementation and stop the IRS from issuing Form 1099-Ks through third-party cash apps, such as PayPal, Venmo and Cash App. After the holidays, the Internal Revenue Service (IRS) has made clear that consumers will be taxed if they make a transaction over $600 on a third-party payment platform, such as PayPal, Venmo or Cash App. This action by the IRS will target Florida. This will hit small businesses, parents selling kid's clothing, church bake sales, and on, and on. This massive policy change will catch most Americans off guard, and that is why I am urging Speaker Johnson to delay implementation and the stop the IRS from issuing 1099s through these third-party cash apps.
Secondly, I released a
statement honoring Florida's fallen firefighters following memorial events at the Florida State College in Ocala. When a Florida firefighter falls in the line of duty, a community loses a hero, a state loses a protector, and the world loses a beacon of courage and selflessness. Firefighting isn't just a job; it's a calling, and their unwavering dedication to protecting their communities is reflected in the lives of those they serve.
Lastly, I penned an
Op-Ed in Florida Politics urging the NCAA to fire its current President Charlie Baker. Under his leadership, the NCAA is out of touch and is clinging to its last string of relevance in a rapidly changing national collegiate sports landscape. Whether it be fighting the implementation of Name, Image and Likeness (NIL), the handling of the Darrell Jackson transfer waiver situation, or not standing with Riley Gaines, the NCAA repeatedly made mind-numbing decisions that have made me lose all faith in their leadership team. The NCAA needs to thank Charlie for his service, find new leadership, and usher in a new era of college sports by completely revamping their organization.
From me and my family, I would like to wish everyone a happy and safe Thanksgiving!
Sincerely,
 Jimmy Patronis
Chief Financial Officer
State of Florida | Stay Connected
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