Yes, the IRS definitely receives the 1099-K.
The reason the advice you see seems to be conflicting is that the 1099-K has been around for several years, but the IRS has announced new guidelines on the threshold for issuing a 1099-K, and new enforcement initiatives. These new rules were set to take effect in 2022.
Late in 2022, the IRS announced a delay in enforcing the new rules to allow people to learn more about what they are required to do. Click here for the most recent IRS guidance.
Originally, as long as you reported the income from your 1099-K in the appropriate place on your return, you did not have to also report your 1099-K.
As of 2022, the advice is to report your 1099-K as outlines in JamesG1's post and make any adjusting entries that apply to your situation.
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