In a move that is set to impact event-goers and ticket resellers across the nation, the Internal Revenue Service (IRS) has introduced a new rule that mandates taxes on ticket resales exceeding $600. The rule is poised to have far-reaching consequences for both individual sellers and major ticket resale platforms.
As a matter of fact, the new tax regulation states that anyone who received over $600 from companies like Venmo, CashApp, Ticketmaster, or StubHub will now have to report those earnings to the IRS. Individuals and businesses involved in the resale of tickets for events, concerts, sports games, and other live…
