The IRS Delayed the New Tax Rules for Payment Apps

A new regulation for 2022 requires transactions made on PayPal, Venmo, or Cash App that over $600 must be reported to the IRS via tax form 1099-K, has been paused.

A new regulation for 2022 requires transactions made on PayPal, Venmo, or Cash App that over $600 must be reported to the IRS via tax form 1099-K, has been paused. However, you will receive a 1099-k form if you received over $20,000 in payments across over 200 transactions in 2022.

How will 1099-Ks affect your taxes once the rule becomes valid?

Link: https://www.cnet.com/personal-finance/taxes/you-may-not-receive-a-1099k-if-you-made-600-via-paypal-cash-app-or-venmo-due-to-irs-delay/

美國國稅局延後新規實施: 透過第三方支付平台為商品或服務付款，一年內累計金額超過600元要申報

國稅局(IRS)先前宣布透過PayPal、Venmo或Cash App等第三方數位支付進行轉帳交易超過美金600元，必須要申報1099k表格，此舉是要掌握並加強監管美國百姓逃漏稅的狀況。不過，這項新規將會延後實施，讓納稅人及相關產業有更多時間適應並了解新的申報需求。