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Level 2

Question

Zelle Payments

Forum|Forum|3 years ago
June 28, 2023
3 replies
37 views

I occasionally send money to my children and grandchildren by Zelle. I also pay a neighbor to walk my dog from time to time when I am away. Do any of my recipients have any tax liability?

Ask the Experts - Energy - June 2023

Level 6

Hi, @aldo7865 , thanks for the question! To answer your question, bona fide gifts to family are not taxable to the recipient. However, the dog-walking payments are likely taxable income to your neighbor.

Hope this helps, please let me know if this raises additional questions!

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Level 2

Am I obligated to report this to the IRS, or does Zelle or my bank report this?

Level 6

You are not required to report payments. Your neighbor may be required to report the income.

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