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Get your taxes done using TurboTax
I understand your point. If you send a "gift" to someone via one of these payment apps and the gift itself or the gift in combination with other payments they may have received is greater than $600 for any one calendar year, it will generate a 1099 for them. Making it a royal pain for them come tax time. Everybody should write their Congressman and have this law abolished or at a minimum have the threshold significantly increased.
‎July 2, 2023
8:01 AM