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New Paypal IRS Reporting Rules for 2022


voice4anychoice
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Has there been an official statement or explanation on the implication of the new law in the US regarding Paypal having to report any transactions over $600? I know only transactions labelled "Goods and Services" are subject to that reporting, and I would have to imagine that how it is designated when being sent from Fiverr to Paypal, but I have not seen any official response/statement/documentation to that effect.

Any thoughts?

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