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House Republicans try to eliminate new $600 tax-reporting threshold for PayPal, Venmo payments

Por: MarketWatch Politics June 14, 2023

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It would return the level at which payment networks are required to send out the Internal Revenue Service’s 1099-K forms to $20,000 and more than 200 transactions. The new $600 threshold, which comes with no minimum number of transactions, , which was Democrats’ $1.9 trillion COVID-19 aid package. Supporters of the change to $600 have contended that it will help the federal government gauge the size of the gig economy and help workers... + full article



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