GOP Megabill Poised to Repeal $600 IRS Tax-Reporting Rule for Venmo, PayPal Transactions
GOP Megabill Targets Repeal of $600 IRS Reporting Threshold for Venmo, PayPal Payments June 16, 2025 – A Republican-led “megabill,” dubbed the “One Big Beautiful Bill,” is gaining traction in Congress and appears set to repeal the controversial $600 tax-reporting threshold for third-party payment apps like Venmo, PayPal, and Cash App. Introduced as part of … Read more