The 1099-K reporting requirement; PayPal, Venmo...
 

if you didn't already know about this:

The 1099-K reporting requirement was part of the American Rescue Plan Act of 2021 passed earlier this year by Congress and signed into law by the President. The effective date for these new changes is January 1, 2022.

Summary, if you receive $600 in total payments during the year... via PayPal and others... these companies will send you a 1099. PayPal will freeze your account unless you provide them a federal TAX ID number or your SSN.

https://www.wbrz.com/news/new-tax-ru...al-venmo-apps/

Time to extract my refund for shipping the wheels to me in Venmo and close the account. Let's Go Brandon!

Actually, he can blow me too.

I'd let Kamala blow me. Joe? Not so much.

I can't stand Kamala, but I'll bet she's a crazy drunk between the sheets.

:slap: Wouldn't touch that skank with knooger's wiener!

I'd stand her in the backyard and hose her down real good before I did any serious work on her.

That's Camel Toe's job.

You're going to have to go full Silkwood on that bitch and it won't even clean where it's needed. In her ****.

As you can probably guess I've never used it... Must be in the same box as my mobile phone and television LOL.

And idiot Biden says that the middle class won't have increased taxes.

Let's go Brandon.

It does stink. But, the States have been asking for a version of it for many years. And, if (only if) it forces the countless off-shore Asian sellers to pony up some taxes let it so be.

Read my lips - No new taxes!

I read more on this, seems it's still up-in-the-air... and/or state specific.

Also, can't seem to determine if it's $600 or more total transactions in a year.... or every single transaction that goes over the $600 mark :confused: