Venmo, Zelle and PayPal must now report $600+ transactions to IRS

Posted by chirau on Friday January 07, 2022 @08:39AM
from the nbcnews.com dept.

https://www.nbcnews.com/news/venmo-paypal-zelle-must-report-600-transactions-irs-rcna11260

( 3 comments | 14 points | on HN )

Re:Venmo, Zelle and PayPal must now report $600+ transaction... by landemva on Friday January 07, 2022 @11:12AM (#29840834)

I had understood the mentioned firms are going to do this reporting voluntarily. Glad I dropped PayPal a year ago (locked my funds, terrible communication, awful customer care).

[ Parent | on HN ]

Re:Venmo, Zelle and PayPal must now report $600+ transaction... by csben on Friday January 07, 2022 @10:00AM (#29839836)

It looks like reporting is only required for commercial transactions. Reporting for personal transactions hasn't changed.

[ Parent | on HN ]

Re:Venmo, Zelle and PayPal must now report $600+ transaction... by sharemywin on Friday January 07, 2022 @08:56AM (#29839113)

That's annual total I'm pretty sure.

[ Parent | on HN ]