My accountant made me declare everything last year, too

Word on the internet is PayPal is reporting income that is over $20,000 and over 200 transactions.

No one seems to know if you must meet both conditions, or if it means they are reporting income for people who made over $20,000 AND for people who had over 200 transactions.

You must meet BOTH conditions to be reported to IRS.

I think they’re supposed to be sent out by Jan 31st

Not just Paypal, it’s all payment processors. It’s costing the processors lots of money as well, they’re not happy about it.

You are excluded from having your info reported if:

1. If you receive less than $20,000 a year in payments; and
2. If you have less than 200 payments.

So you open a bunch of accounts in other peoples names

I always thought at some point they would start reporting to the IRS. Ive had paypal for idk 12 years I guess now and I only have one major fuck up with them and they corrected it — just took a month to do it.

I am curious though if the law goes into place this year how far back are they going to go of it just 2012 and onward. Just speed reading looks like 2011 and up but not sure.

According to the way you phrased that, it sounds like you are only excluded from payment if you meet both of those conditions.

In other words, if you meet one of them, you are NOT excluded from having your info reported.

I was paid over $20,000 in PayPal but in fewer than 200 transactions.

Either condition being false gets you off the hook

No, assuming everyone who that statement does not apply to does get reported, your logic is wrong here.