Plan Would Raise PayPal, Venmo Reporting From $600 To $10,000

  • Americans have been bracing for a new reporting change for third-party payment networks like Venmo or PayPal.
  • Sens. Bill Hagerty, R-Tenn., and Joe Manchin, D-W.Va., will propose to raise the tax reporting threshold to $10,000 from $600 for 2022.
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