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In case you haven't heard....
Want some potentially good news to the start the New Year? Paypal customer service this past week mentioned there was a reversal in the $600 reporting requirement to the IRS. Investigating further, It appears to give a temporary reprieve for this year's tax reporting season (i.e. 2022 tax returns). Checking with your accountant might be best if the rule changes are applicable to you.
The delay allows more time for companies like Paypal to implement the new requirements.
You can see more details here: IRS Paypal $600 Reporting Rule Change Delay.
Want some potentially good news to the start the New Year? Paypal customer service this past week mentioned there was a reversal in the $600 reporting requirement to the IRS. Investigating further, It appears to give a temporary reprieve for this year's tax reporting season (i.e. 2022 tax returns). Checking with your accountant might be best if the rule changes are applicable to you.
The delay allows more time for companies like Paypal to implement the new requirements.
You can see more details here: IRS Paypal $600 Reporting Rule Change Delay.
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