I have a rental property and the payment is made to my PayPal account. Will the new tax law affect me?

[JandKit]

Hi Cjfoxx,

Yes, you will be affected by this law. 

PayPal and Venmo will be required to provide customers with a 1099-K form if they receive $600 or more in goods and services transactions during the 2022 tax year. This means you will need to take into account the Threshold Change with your Tax Year 2022

[Cjfoxx]

I report to the IRS the total rent received annually via PayPal.  Will I be required to pay additional taxes as a result of using PayPal to collect my rent payments.  I am considering having future rent payments made via direct deposit to my checking account to eliminate filing a 1099K.  Is that something I should consider?