New Scheme From IRS: Millions of Americans Will Be Targeted | Facts Matter

Starting this year, a new IRS rule goes into effect, requiring that “third-party payment networks like PayPal, Venmo, Amazon, and Square issue Form 1099-K when a user receives more than $600 in gross sales from goods and services transactions in a single year. Earlier, the threshold of gross sales was over $20,000.” This means ...