TechFlow news, January 20: PayPal officially announced it will offer free self-service tax filing for its debit card holders, including free federal and state tax return filing services for U.S. PayPal Debit Mastercard users for the 2025 tax year. According to information on PayPal's official website, users are required to report taxes on cryptocurrency transactions conducted through its platform. Starting from the 2025 tax year, the U.S. Internal Revenue Service (IRS) requires U.S. digital asset brokers such as PayPal to report gains from dispositions of digital assets on Form 1099-DA. If a user has disposed of cryptocurrency in their PayPal wallet—such as by selling or exchanging it—during the applicable tax year, PayPal will send the IRS tax Form 1099-DA to the user by February 15.
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