Also, the new law is not a change in the tax code. It's simply a change in tax reporting for these third-party companies. The changes aren’t limited to popular, big-brand payment apps.

Is the 1099-K threshold change specific to PayPal, Venmo? No, it is industry wide for all third-party settlement organizations that you may use to accept payments for the sale of goods and services.

WASHINGTON — Tax reporting is going to be a little less complicated for individuals and companies that receive business payment s via PayPal, Venmo, or e-commerce companies such as eBay, Etsy ...

But in 2025, that number is expected to soar. The IRS announced the reporting threshold for the 1099-K form will drop from $20,000 to $5,000 this tax filing season, plummeting each year until $600.

The IRS announced it won’t require platforms such as Paypal and Venmo to issue a tax when a user’s business transfers exceed $600. The pre-2022 threshold of 200-plus transactions worth an ...

In light of the complex new tax reporting rules that will affect payments made on e-commerce sites and apps like PayPal and Venmo, the IRS has delayed the implementation of the sweeping changes in ...

Tax pros had flagged the lower tax reporting threshold as a possible pain point for filers, with the risk of receiving 1099-Ks for personal transfers on platforms such as Venmo and PayPal, such as ...

WASHINGTON — Tax reporting is going to be a little less complicated for individuals and companies that receive business payment s via PayPal, Venmo, or e-commerce companies such as eBay, Etsy ...

WASHINGTON — Tax reporting is going to be a little less complicated for individuals and companies that receive business payment s via PayPal, Venmo, or e-commerce companies such as eBay, Etsy ...