It's come to my attention that PayPal's threshold for reporting income has changed because of the new Stimulus package. The threshold used to be $20,000 and 200 transactions. That is being changed to $600. Meaning if you are using EBay or other sites to make money and make over $600, this will be reported to the IRS. My question is anyone positive when these changes are being made. Someone said the change is in place so any money you're making this year will be reported next Spring for tax refunds. The 1099K. Does anyone know it that is true or does it start next year and affect 2023 report?
