GOP megabill looks set to end the $600 tax-reporting rule for Venmo, PayPal payments

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One supporter of a lower threshold for 1099-K tax forms says the issue could come back in the future due to the massive growth in gig work

Published: June 15, 2025 at 1:00 p.m. ET

With more than 1,000 pages of text, the version of the Republican tax-and-spending megabill passed by the House of Representatives last month is chock-full of provisions — including one that ends an effort to get 1099-K tax forms out to workers or sellers who have earned more than $600 a year.

Rep. Carol Miller, a West Virginia Republican, and Treasury Secretary Scott Bessent celebrated this particular provision at a House hearing during the past week.

About the Author

Victor Reklaitis is a Washington Correspondent for MarketWatch. During his time at MarketWatch, he also has served in roles in the London and New York newsrooms. Prior to joining MarketWatch, he worked at Investor’s Business Daily and for newspapers in Virginia.

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