Caution! Scammer

[ooitzoo]

Try the IRS.

I did. There's nothing to suggest they plan on lowering it to $600.

They do say that PP *can* issue the 1099s for lower amounts if they chose but that's likely always been true.

 

[hhmoore]

Is this something you know? If so, got a link?

There are states that made the change to $600 a few years ago - it was a hot topic for a while because after people started complaining it was found to be the plan. It was schedule to go nationwide, but got delayed a couple times.

For all the people saying that is the main reason, you're delusional. There had been a steady increase in the F&F movement for years before the 1099 thing came to light. Yes - the tax implication pulled most of the remaining G&S people over to the dark side...but they were already a minority.
For reference, in 2019 I became more blunt in my posted terms: If you are one of those sellers that lists separate prices for Friends/Family vs Goods, or insists upon F/F, please don't bother to contact me. I don't buy from you, I'm not going to sell to you, either
(prior to that, it asked the net to me and add __% people to honor their own terms & told the F&F people they were out of luck because I didn't accept that payment method. The rule disallowing net to me and add __% precipitated the change)

 

[ooitzoo]

There are states that made the change to $600 a few years ago - it was a hot topic for a while because after people started complaining it was found to be the plan. It was schedule to go nationwide, but got delayed a couple times.

For all the people saying that is the main reason, you're delusional. There had been a steady increase in the F&F movement for years before the 1099 thing came to light. Yes - the tax implication pulled most of the remaining G&S people over to the dark side...but they were already a minority.
For reference, in 2019 I became more blunt in my posted terms: If you are one of those sellers that lists separate prices for Friends/Family vs Goods, or insists upon F/F, please don't bother to contact me. I don't buy from you, I'm not going to sell to you, either
(prior to that, it asked the net to me and add __% people to honor their own terms & told the F&F people they were out of luck because I didn't accept that payment method. The rule disallowing net to me and add __% precipitated the change)

Someone else referenced the state thing (maybe it was you, I don't recall). Funny enough, I haven't seen it in either state I've lived in and they're in the top 5 (maybe 3) highest tax states in the country.

As far as PPFF and the taxes go, I think a lot of people are missing the point. Whether you use PPFF or PPGS and whether PP sends you a 1099 or not are irrelevant. The income is still just that...income. You can argue taxes are a stupid and counter-productive (I'd agree) but the IRS is unlikely to care much less agree. The reality is, if you find yourself in an audit or the IRS somehow otherwise gets wind of this, you're in some seriously deep isht.

Effectively, you're committing tax fraud and, to wit, you're committing simple fraud (by using PPFF for a commercial transaction) in furtherance of said tax fraud. No bueno senior. No bueno.

 

[Blues]

We're going around in circles. Done here.