Millions of gig workers and

US Senators Propose Increase in Tax Threshold for Venmo, PayPal

CNBC Report: Manchin, Hagerty will sponsor amendment to raise

Millions of gig workers and sellers that use payment networks like PayPal and Venmo remain on track to receive a K tax form in 2025 for the first time, after

Democrats in the

Two U.S. Senators will propose an amendment to the $1.7 trillion spending package that would change the tax-reporting requirements for Venmo, PayPal and other similar apps. Before

Democrats in the 2025 American Rescue Plan Act lowered the threshold to $600 for when e-commerce companies must send a K form to users and the IRS. The

Americans have been bracing for a new reporting change for third-party payment networks like Venmo or PayPal. Sens. Bill Hagerty, R-Tenn, and Joe Manchin, D

In December

PayPal, eBay Gear Up for K Headaches While Chasing a Fix

In December 2025, we covered the IRS’s decision to postpone the $600 reporting threshold in response to widespread concerns that taxpayers would erroneously

PayPal & Venmo Users: IRS Adjusts K Reporting Thresholds

Two US Senators have proposed

Tax Pros Express ‘Deep Concerns’ About $600 Threshold as

Two US Senators have proposed an increase in the tax threshold for third-party payment networks. The proposal would increase the threshold for platforms like Venmo

Measures to delay $600 tax-reporting threshold for PayPal, Venmo

tax bill includes an increase

tax bill includes an increase to the reporting threshold for online payment platforms like Venmo, PayPal, and Etsy. The bill, if adopted, would return the Form K

Proposal to Raise Venmo and PayPal Reporting Threshold from

Proposal Made to Raise Venmo, PayPal Tax Reporting

Sens

Sens. Joe Manchin (D-W.Va.) and Bill Hagerty (R-Tenn.) have proposed an amendment to the $1.7 billion funding package, to raise the $600 reporting requirement for

WASHINGTON, D.C.CNBC is reporting that two U.S. Senators will propose an amendment to the $1.7 trillion spending package that would change the tax

House Bill Would Raise Reporting Threshold for Payment Apps