New Tax Code Hits PayPal, Venmo With Bigger Tax Bill in 2023
A tax change will prompt payment app providers with a bigger tax bill starting next year. The $1. 7 billion funding package has been amended by Sens. Joe Manchin and Bill Hagerty to increase the $600 reporting threshold for third-party payment networks like Venmo and PayPal to $10,000.
Source: itechpost.com