No 1099-k for 2022 for Paypal and other payment platforms

I’m sure this is a big relief for the wealthy who were undoubtedly wringing their hands in worry. 

That’s good news.

I was wondering how this was going to work. Most items that I have sold were usually sold as used and at a loss from the original purchase price.

It seemed like a nightmare awaiting along with the 85K+ IRS agents...

ozzy

Hey I am a poor guy who was wringing hands in worry about this, so much so that I got a second job last week to pay my taxes. This is freaking great news!

I wasn't terribly worried about this as pretty much everything I sold, I sold at a loss. However, I don't exactly have receipts for things I bought used a decade ago. I was more concerned about how much documentation each transaction would require. Guess I'll be saving all my PayPal "receipts" for purchases henceforth.

....and they have delayed it yet again.

IRS delays controversial new rule on tax reporting for apps like Venmo