Quote:
Originally Posted by nwobhm
It was lowered from $20k to $600 to match businesses. Truth is it should have been raised on the business side up to $20k. Any move made by the IRS on reporting comes with intent. They want more $. Who’s $ is the question IMHO. A lot of $ moves between $600 and $20,000….
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Look at what I said in post #27. Had people not been using Paypal and other third-party payment platforms to pay people for services, and only just for goods they were buying, chances are the $20,000 and 200 transaction thresholds for reporting the sales/proceeds from goods sold would still be in place.