Third-party payment processors like Venmo and PayPal must report business transactions to the IRS if they exceed $600 for the year. Critics warn that small businesses and low income and middle-class Americans are targeted. It is a "honey pot for audits." It may also usher in CBDC.
Continue reading IRS Warns Of New $600 Reporting Threshold January 1st that Will Usher in CBDC at Need To Know.
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