Paypal Changes for 2022


If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services.  The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections.  Is everyone aware of this?

 

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God bless the Black Market. Bureaucrats are stupid. They just increase everyone's paperwork and most of us find work arounds. What this will do is hurt companies like eBay and Audiogon as we will find ways to work around them. Do I really care? 

This is why I save all receipts from every audio related thing that I buy. So I have records. I put them all in a drawer and save them. But like I said. This should make all audiophiles who turn over gear a business with business expenses and deductions. 

I have no problem what so ever paying tax.....I have a HUGE problem on what the government uses my tax money for!!!

@nonoise I'm a guy who makes less than a 100k a year. I was homeless 20 years ago. I knew then as I do now the government is a glutton with billions of wasteful and fraudulent spending. I knew then as I do now that it is not right to take from one who earned or produced something to someone who didn't. I knew then as I know now that until waste and fraud is stopped or extremely curtailed, we shouldn't raise taxes on anyone. My hair is just fine.

@dadork , Hey, good for you. Your sob story is really touching. If you really want to go after waste and abuse, then follow the money and where it really goes. Tell companies to pay a living wage so we taxpayers at the bottom won't have to subsidize their profits by paying for food and housing programs, for a start. Until, stop pontificating as it's rather boring.

All the best,
Nonoise