ilmscore | Prediction Details
"Myth number one is that if it's on a cash app, like you provided services or sold a product and you got paid through a cash app, then it's not income. But that's going to be false. Income is income. It doesn't matter the manner that you received it. Whether you receive cash or a check or, you know, through a cash application, if it's income, then it's going to be income and they're going to see that reported. And myth number four is that if it's a hobby, then you could you could just ignore that income that you received, but not in the eyes of the IRS. In again, income is going to be income whether it's a hobby or not."
By ClearValue Tax | January 5, 2026 | Correct
From video
IRS Cracking Down on Side Hustle Income (Avoid These Mistakes!) 00:10:47 - 00:12:02
Interpreted Prediction
Income received through cash apps, or income generated from activities considered hobbies, is still considered taxable income by the IRS.
AI Evaluation Notes
The IRS still considers income received through cash apps or from hobbies as taxable income. This aligns with the prediction made.

Prediction Details

Topic
Income from hobbies and cash apps is taxable

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