I am having the exact same issue. Someone fraudulently opened a PayPal merchant Acct w my information and I received a 1099k form for 2020 with 10k in income. I was able to get through to customer service to report the account on the 1099k so it’s closed and they’re “investigating”. I’ve asked about when and how PayPal will notify the IRS and am still waiting to hear back or find someone at PayPal about how that part. Very frustrating. I saw another thread with at least 7 others experiencing the same issue and threatening a class action suit against PayPal for all of this. If anyone has luck w PayPal advising on if they’ve rectified their 1099k w the IRS, Please update. Good luck.
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