Proposed rules to boost the reporting threshold for e-commerce transactions is at White House review.
The 2025 GOP tax-and-spending law requires e-commerce platforms like Venmo, PayPal Holdings Inc., and eBay Inc. to send 1099-K tax forms to users with more than $20,000 in transactions. The law increased the $600-per-transaction threshold set by a 2021 law, which sparked backlash from Democrats, Republicans and a lobbying push by the companies.
The Office of Information and Regulatory Affairs received the proposal (RIN: 1545-BR73), titled “increase in threshold for requiring information reporting with respect to certain payees” on Friday. After the review is complete, ...
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