> any transactions over $600 to the IRS Pedantic but the change was that any P2P service has to give you a form to fill out if you send or receive more than $6

> any transactions over $600 to the IRS Pedantic but the change was that any P2P service has to give you a form to fill out if you send or receive more than $600 in a calendar year. Since 1970 with the Bank Secrecy Act, banks have had to report ACH/cash/wire deposits over $10,000 to the IRS and are at their own liberty to report anything lower.