The Internal Revenue Service (IRS) has responded to negative feedback from taxpayers, tax professionals, and payment processors and has decided to delay imposing a new $600 reporting threshold requirement for income received from third-party marketplaces and payment organizations like PayPal and Venmo.
As part of its much-touted tax enforcement crackdown, the IRS has been preparing to go after small sellers and service providers who are paid through third-party apps.
