Paypal 600 Irs 2025. Paypal withheld money from certain accounts that were missing tax information at a rate of 24 percent, as required by the irs. Here's what you need to know.

For your 2024 taxes (which you’ll file in 2025), the irs is planning a phased rollout, requiring payment apps to report freelancer and business owner earnings over $5,000 instead. This is to give congress the time to repeal the lower $600.