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Venmo requesting your tax info and withholding funds
Posted by on 2023-06-06 at 5:20 PM
Starting June 2023 Venmo in the USA is required to submit any business transactions to IRS even on a personal account, and they put your funds on hold till you give them your SS# or tax ID. But to do this you need to have their app installed on a phone or any Android device. You can not find a link on a regular computer. When you download the app – click on ME – and it will ask you for the tax info, give them your SS# and the address (the same one you use for IRS). I got a hold removed in 5 minutes after I did this. I think a similar situation will happen with PayPal. It does not affect ‘friends” transactions.
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