House Republicans try to eliminate new $600 tax-reporting threshold for PayPal, Venmo payments

House Republicans’ new tax-cut package includes a measure that would squash a $600 tax-reporting threshold for gig workers and sellers who use payment networks like PayPal or Venmo.

The measure aims to stop “the attack on the gig economy and Americans by repealing Democrats’ new rule that has the IRS targeting gig workers and those who use Venmo or PayPal to sell items like a used couch, guitar, or concert tickets,” said the office of House Ways and Means Committee Chairman Jason Smith, a Missouri Republican, in a news release…