Could of this been slid in the last bill passed and no one was told? Seems so.

https://lifehacker.com/is-the-irs-really-about-to-tax-your-venmo-paypal-and-1847795425

First, The American Rescue Plan Act, which was passed by Congress in March, has a provision that will go into effect on Jan. 1 that requires cash apps like Venmo, PayPal and Zelle to send information reports to merchants and the IRS regarding business transactions totaling more than $600.

Oct 07, 2021 · Those posts refer to a provision in the American Rescue Plan Act, which goes into effect on January 1, 2022, according to which anyone receiving $600 per year using Venmo, PayPal, Zelle, or Cash App will receive a 1099-K and be required to report that income on their taxes.

Sep 24, 2021 · The reporting requirement would extend to services such as Venmo and PayPal. There is an exception for accounts totaling less than $600. The justification is to catch more people cheating on their taxes--closing the “tax gap”--to bring in more money to pay for a portion of the Democrats’ socialist spending spree.