Has anyone been issued a 1099-K for their 2020 tax year at well UNDER the $20,000 sales and/or 200 transaction thresholds that PayPal claims it uses? Can anyone explain why?
Some US States require merchant reporting at a lower threshold:
Vermont, Massachusetts, Virginia, Maryland: $600 USD in gross payment volume from sales of goods or services in a single calendar year regardless of the number of transactions;
Illinois: $1,000 USD in gross payment volume from sales of goods or services in a single calendar year with at least 3 payment processed
