If you discover any errors on your Form 1099-K, or if it includes personal transactions that shouldn't be taxed, contact Venmo for a correction. Venmo can issue a corrected form if necessary. It's crucial to handle this before filing your tax return to avoid complications ...
Just like anything tax-related, once a player reaches a certain income level, it’s wise to employ the services of a well-versed accountant or tax expert who can optimise their tax burden to ensure they’re not making any mistakes. Got any questions about taxation in tennis? Let me know ...