Selling old clothes on Poshmark or splitting dinner bills on Venmo recently caused unnecessary panic. Many feared the “$600 Rule” and the wave of tax paperwork it would bring. Fortunately, the IRS announced another delay for the 2026 tax season. The reporting threshold will rise to $2,000 instead of the strict $600 limit. This decision offers relief to gig workers and casual sellers. However, this is not a permanent cancellation. The law remains in effect, and the IRS intends to eventually lower the limit. You have gained time, but not a free pass.
