What the wealthy can fear from a new IRS rule on $600 payments A new law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy. Under the rule, e-commerce and digital payment platforms that transfer money from a buyer of goods or services to a seller must issue the recipient a Form 1099-K if they receive $600 or more in a calendar year.

Are there advantages to signing up for Social Security and Medicare at the same time? Filing Social Security and signing up for Medicare at the same time could be a great strategy for seniors, as retirees would avoid an increase in Medicare premiums if they are already on Social Security, according to this article on personal finance website Motley Fool. However, while retirees can sign up for Medicare at age 65, filing for Social Security before full retirement age could mean reduced benefits.