Will PayPal Report the Payments I Received to the IRS

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Will PayPal report my sales to the IRS? • All US payment processors, including PayPal, are required to provide information to the US Internal Revenue Service (IRS) about customers who receive payments for the sale of goods and services above the reporting threshold in a calendar year. • Will I have to pay taxes when sending and receiving money on PayPal - what exactly is changing? • Beginning January 1, 2023, the Internal Revenue Service (IRS) implemented new reporting requirements for payments received for goods and services, which will lower the reporting threshold to $600 USD for the 2023 tax season from 2022’s threshold of $20,000 USD and 200 transactions. Here’s some more detail: • https://www.paypal.com/us/cshelp/arti... • Sign up for PayPal: https://payp.al/signup • Visit the PayPal Website: https://payp.al/home • Visit the PayPal Newsroom: https://payp.al/blog • Follow PayPal on Instagram: https://payp.al/ig • Follow PayPal on Twitter: https://payp.al/tw

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