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I want to warn you about this Im talking about the new $600 IRS rule its being implemented this year in 2023 up to 40 million Americans are going to be impacted but most people they just dont know it yet the tax documents theyre going to be sent out in January so were talking about 4 months from now and its going to catch a lot of people by surprise so as a refresher if youve been using PayPal cash app or mod youre going to want to make sure that you understand the situation if you receive $600 or more of qualifying transactions through a thirdparty payment processor such as the ones that I just told you then the IRS will get involved youre going to receive a tax document its called a 1099 K so okay so heres what changed it used to be a $20,000 threshold but now they dropped it down to a $600 threshold so first lets do this lets clarify this Ill give you an example to break this down for you so lets just say that you had a garage sale right and you sold you sold some fur
