Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require third-party payment apps, like PayPal, Venmo or Cash App to report income of over $600 or more per year to the tax agency. The IRS delayed this new reporting requirement in 2022 and again in 2023.

JetBlue is the first airline to accept payments from the peer-to-peer payment app, which is owned by PayPal. Like Apple Pay, Google Pay, or PayPal itself, Venmo lets you complete a transaction without having to dig out your credit card or input your financial details into the website.

Payment apps are now required to send payment information to the IRS. If you use these apps you may owe taxes this year.

In an announcement last week, JetBlue says it's the first airline to accept payment for a plane ticket through Venmo. Many airlines already let you use PayPal (which owns Venmo), but this is the first airline partnership with the popular peer-to-peer payment platform.

PayPal Holdings, Inc. (NASDAQ:PYPL), a leading technology platform and digital payments company with a market capitalization of $88.4 billion, finds itself at a critical juncture as it navigates a rapidly evolving competitive landscape and implements strategic initiatives to drive future growth.

JetBlue announced this week that it will now accept Venmo payments, a first for the airline industry. The new arrangement has many advantages but also a few uncertainties, especially for travelers who live for their credit card’s bonus points.

Analyst Harshita Rawat of Bernstein maintained a Hold rating on PayPal Holdings (PYPL – Research Report), boosting the price target to

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That includes payments for clothing, concert tickets, collectibles and household items. For the 2025 season, the digital income threshold to report will lower to $2,500, and then to $600 for the 2026 season. The IRS officially opened for business on Monday (Jan. 27), which is when individuals can begin filing their 2024 tax returns.

Synchrony Financial partners with retailers and medical providers to offer promotional financing as well as private-label and co-branded general-purpose credit cards. While the company’s CareCredit cards and installment loans have consistently performed well,

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