What happened to those dreaded 1099 forms we were going to receive from Paypal?

@seikosha And that's one reason why it's nice to live in Texas with no state income tax!

Yes, the IRS delayed the $600 reporting threshold until the 2023 tax year, which means if you sell over $600 this year through ebay, paypal, ect., you will get a 1099-K form to mess with on your taxes.  I had received an email from Ebay that I had sold over $600 and that they needed my full SS#.  But my sales were only $540.  So, I spoke with a person at Ebay and they told me that the IRS considers the shipping charges to be part of my sales total.  Well, I have to purchase the shipping, so I don't actually have that money for more than a day or two.

Most of my casual sales have been of old items I have around the house, like a film camera I bought in 1981 and an AVR I got in 2016.  I don't see why a person who only occasionally engages in such casual sales should have to mess with this on his or her tax return.

Now, I wrote to my  US House member and both of my US senators about this issue.  I suggested that they revisit this and possibly come up with a compromise threshold of $10,000.  Prior to the change, the threshold was $20,000.  I'm hoping they will adjust this threshold with a rider to some legislation they pass this year.

@rbertalotto That is what I was afraid of, i.e., that some of these companies were going to issue a 1099K even if they were not required to because they are so eager to please the government.  I half way expected to receive one from Ebay for my sales being just over $600, but I just checked my account and it says that I did not receive a 1099K for 2022.

@nonoise 

Lol, I think you'll have a hard time getting Texans to opt for a state income tax, even though property and sales taxes are higher than some states.  And, why do you bring up California, anyway?  And, since you brought it up, why are people leaving CA in droves?

@superdryb20 Are you talking about for the 2022 tax year or 2023?  The IRS delayed the $600 threshold to 2023.  Are you saying the current House is looking at the threshold and where did you hear that?