11/06/2025
IRS $600 Tax Rule for 2025 Changed (Venmo - Cash App - PayPal)
The recent changes to the IRS 1099-K reporting rule, primarily affecting users of payment apps like PayPal and Venmo, as well as online marketplaces. A recent legislative action, referred to as the "OBB" (One Big Beautiful Bill), effectively reversed the controversial requirement that mandated reporting for transactions totaling $600 or more, which had been enacted under the American Rescue Plan Act of 2021.