Category: News

PayPal reports a promising outlook for cross-border eCommerce

Paypal has released the Borderless Commerce Report 2022, which looks at the trends for international eCommerce. PayPal reports that 57% of shoppers already buy internationally and 42% feel more confident with cross-border shopping now than they did the year before. This report comes at a very good time, as many international marketplaces (Walmart Canada, Walmart Mexico, MercadoLibre, just to name a few) are opening their websites to US sellers.

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eBay partners with TaxAct to assist sellers with the new 1099-K threshold

Before 2022, the IRS required marketplaces to issue Form 1099-K when sellers reached 200 transactions and $20,000 in gross payments in a year. However, starting January 1, 2022, the minimum number of transactions was removed, and the threshold was changed to $600. Many more 1099-K will be issued this year, and eBay is trying to help sellers understand the Form 1099-K tax obligations by partnering with TaxAct.

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