Louisiana Ticket Sellers Will Be Taxed More on Resold Tickets
Scalpers have officially gotten the IRS's attention. In the past ticket sellers had to report earnings if they made over $20,000 in 200 transactions per year. Now with this new tax regulation, anyone who profits over just $600 via Venmo, CashApp, Ticketmaster, or StubHub is legally required to report those earnings to the IRS. It's no surprise that we are seeing this change in the wake of two massive record-breaking tours from the music industry's biggest stars, Taylor Swift and Beyonce of course.