It’s important to make sure that your tax information on Venmo matches IRS records, so we’re here to help if you need to change the info on your tax forms.
Note: The IRS has delayed the implementation of the $600 reporting threshold for payment transactions for goods and services by one year. For the tax year 2022, the IRS will continue to use the reporting threshold of total payments exceeding $20,000 for goods and services and more than 200 transactions. Some states have lower reporting thresholds. Read on for more information.
For the 2022 tax year, you can access your tax documents electronically in your Venmo Tax Document Center. Shortly after the new year begins, we’ll send you an email noting that your forms are available, so please keep an eye on your inbox. Once available, tax forms issued to you by Venmo can be downloaded after you sign into your account from the Venmo website.
Once your tax documents are available, we recommend downloading and reviewing them. If you see a need to make changes to any information on your tax forms, you can request corrections from the Venmo website (not the app).
Note: After your tax forms are issued, you may not see the option to request corrections right away. Our team is working hard to make the corrections process seamless, and you'll soon be able to request updates to your tax documents right from your Venmo account.
Here's how:
- Start by signing in to your Venmo account from a computer’s web browser
- From the sidebar, select Settings
- Select Tax Documents
- Use the dropdown menu to select the relevant tax year
- Select Make changes next to the document you want to correct
- Follow the prompts on the next pages to make and submit your changes
After submitting your request, you can expect to receive an update via email within 7 business days.
Please note, we are only able to make changes to your tax information after your documents have been issued.
Not all Venmo users will receive tax documents from us, but you can read more here about what to expect for tax season.