Zelle must report $600+ in transactions to IRS

" Previously, these mobile payment apps only had to tell the tax authorities when a person had over 200 commercial transactions per year that exceeded $20,000 in total value, the IRS said.

Starting Jan. 1, the IRS said, if a person accrues more than $600 annually in commercial payments on an app like Venmo, then Venmo “must file and furnish a Form 1099-K” for them — reporting on all the commercial income they collected through the app.

The tax-reporting change only applies to charges for commercial goods or services, not personal charges to friends and family, like splitting a dinner bill."

Is this going to affect our Zelle trades?

Thanks for the question.

Is it just mobile payment apps or is it payments made from any bank or financial institution?

You should re-read that article, pay attention to the correction at the bottom.