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The new 1099-K rules have sparked discussions on whether Zelle is now the best payment app for businesses. Under the new rules, payment apps like Zelle may trigger 1099-K tax reporting for transactions exceeding $600. However, there are mixed views on whether Zelle payments are indeed subject to these rules. Some experts suggest that there may be loopholes or uncertainties regarding the application of the $600 IRS reporting law to Zelle payments, making it a topic of debate for businesses and taxpayers alike.

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