https://www.cato.org/blog/irs-spares-side-hustlers-now
Even the IRS realizes the $600 reporting requirement is a very bad idea and have delayed implementing the rule to enforce it by one year.
I think it is very likely that a bill to raise the reporting requirement from $600 to $5000 will pass with bipartisan support in this Congress, particularly given the IRS’s rather broad hint in punting the implementing rule to next year.
While it should go back to $20,000, raising it to $5,000 will remove the burden from a very large number of people.
