India, Feb. 9 -- Anyone who used PayPal, Venmo or Cash App in 2025 may need to take a closer look at their tax return. The IRS has warned that some payments received through digital platforms may count as taxable income and must be reported, even if no tax form is issued.

According to Marca, the agency is expanding its focus on digital transactions as payment apps are increasingly used for selling goods, offering services and operating side businesses.

Payment platforms that process transactions for goods or services are required to issue Form 1099-K once users cross certain thresholds.

Traditionally, the form is generated when payments exceed $20,000 and involve more than 200 transactions in a calendar year.

However, the IRS has said...