Getting paid on Venmo or Cash App? There's a tax for that

If you're a U.S. citizen making money from the sale of goods or services, the IRS considers it taxable income regardless of how or where you're paid. But some sellers have tried to fly under the feds' radar by taking payments through an online app, such as Paypal or Venmo, then not reporting them on their tax return.

This year, however, the IRS will have a clearer picture of the revenue that people have been collecting online. That's because payment apps, online marketplaces and gig-economy companies such as Airbnb are now even relatively modest amounts that users collect for the sale of goods or services.