Consumer downloads of apps like Cash App and Venmo dropped in the fourth quarter compared to the year-ago period, data from Wolfe Research shows.

This new tax reporting rule should not affect your tax liability. If you earn over $400 in income, you need to report it to the IRS.

As tax season kicks off in the United States, the IRS has introduced new regulations that could impact how you file your taxes if your income surpasses the set threshold. These changes particularly affect freelancers and those using digital payment platforms.