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bork_bork

01-31-2011 11:54 PM

200 transaction $20k limits

Hi guys, about a week ago I saw a link in my paypal about these limits for the 200 transaction $20k limit before you have to give them the SSN(thank you W). My question is I can no longer find the link on my current number of transactions that had a running total. Also does anyone know when this resets? By how I read it on paypal it looked like it reset on your 1 year or is it Jan 1 every year.

fdafdafda

02-01-2011 03:22 AM

I assume it is Jan 1 because this requirement was put in place to comply with new IRS regulations regarding 1099s.

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