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Re:Venmo, PayPal and Zelle must report $600 in transactions ... by ziml77 on Tuesday January 18, 2022 @12:24PM (#29982436)
It's up to you to the both parties to ensure that the payment is marked correctly. And services like Paypal already have a reason to kick people off who aren't choosing the right transaction type. Paypal doesn't take a fee from friends & family and other gift payments, so it's already in their best interest to find who's abusing it. Also I can't imagine the platform would be liable if they are not the direct cause of misreported transactions.

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