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PayPal: Will send relevant tax forms to users by February 15 to comply with IRS regulations
GateNews
Odaily Planet Daily reports that PayPal officially announced it will provide free self-service tax filing services for its debit card users, including free federal and state tax return submission services for US PayPal Debit Mastercard users for 2025. Additionally, according to information on PayPal’s official website, users’ cryptocurrencies on its platform are subject to taxation. Starting from the 2025 tax year, the US Internal Revenue Service requires PayPal and other US digital asset brokers to report digital asset disposal gains on Form 1099-DA. If users dispose of assets such as selling or exchanging cryptocurrencies within the applicable tax year, PayPal will send users the US IRS Form 1099-DA by February 15.
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