- It was a summer of record-breaking ticket sales for live events. From Taylor Swift to Lionel Messi, fans shelled out thousands to see their favorite stars in person.
- Scalpers made huge profits by selling their tickets for exorbitant prices, and now the IRS wants a piece of the pie.
- A new tax regulation enacted under the American Rescue Plan Act says anyone who receives over $600 from a settlement organization like Venmo, CashApp, Ticketmaster or StubHub will now have to report those earnings to the IRS.
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New IRS $600 Rule Will Tax Scalpers Who Sell Concert Tickets For Massive Profits
FILE - Taylor Swift performs during "The Eras Tour," May 5, 2023, at Nissan Stadium in Nashville, Tenn. The pop star has officially earned more No. 1 albums than any other woman in history. Swift's re-recording of her 2010 album “Speak Now (Taylor's Version)," the third in her effort to re-record her first six albums, has officially debuted at No. 1 on the Billboard 200. (AP Photo/George Walker IV, File)
