IRS Rules for Venmo, CashApp Users Clear White House Review

Proposed rules that would increase the reporting threshold for individuals who use e-commerce platforms for business are one step closer to being released.

The White House Office of Information and Regulatory Affairs Wednesday finished its review of the proposed rules (RIN: 1545-BR73), titled “Increase in threshold for requiring information reporting with respect to certain payees.”

The 2025 GOP tax-and-spending law requires e-commerce platforms like Venmo, PayPal Holdings Inc., and eBay Inc. to send 1099-K tax forms to users with more than $20,000 in transactions and a number that exceeds 200. The law increased the $600-per-transaction threshold set by a ...