The End of Privacy: PayPal, Venmo, Cash App to Report $600 in Total Transactions, Require Your Tax Info

Starting this month, third-party payment vendors will report $600 in total annual transitions to the IRS. That’s not every transaction of $600 or more. That’s if you do more than $600 worth of business with any of them over the course of an entire year. Vendors will also need to see your tax information, comrades. PayPal, Venmo, and others are acting in compliance with the American Rescue Plan Act, passed by Democrats on a strict party-line vote in both houses, and signed into law last year by Presidentish Joe Biden.-- More...