IRS Delays $600 Reporting Threshold for PayPal, Cash App (1)

E-commerce platforms like PayPal Holdings Inc.‘s Venmo and Etsy Inc. got some reprieve Tuesday as the IRS in guidance again delayed the requirement established by a 2021 law that the companies send tax forms to customers with business transactions of more than $600.

The delay for the 2024 filing season means casual sellers—some of whom were bracing to get the information return for the first time—won’t be receiving the 1099-K form, which includes information about gross payments made on the platforms.

E-commerce companies are required to report payments on 1099-K forms to the IRS and send a copy ...