PayPal & IRS Issue
PayPal & IRS Issue
Out of context: Reply #24
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- ukit0
https://www.thepaypalblog.com/20…
"Under the legislation, PayPal will be required to report to the IRS the total payment volume received by PayPal customers in the U.S. who:
receive more than $20,000 in payment volume in a single year; and
receive more than 200 payments in a single year.
This legislation applies to all payment providers including PayPal and takes effect in 2011, so the first reports will go to the IRS in January 2012. "