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A comment on Venmo, PayPal and Zelle must report $600 in transactions to IRS. Parent comment

Re:Venmo, PayPal and Zelle must report $600 in transactions ... by cwkoss on Tuesday January 18, 2022 @01:21PM (#29983397)
Is it? Seems like taking $1 from a million people would cost $.50+/person in administrative costs.
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