Zelle is attached to your bank account...if the $600 threshold is exceeded it's attached to all your other banking transactions...which is subject to scrutiny if desired by the irs.
Agreed, but at least its not a 1099 form being sent directly to the IRS like you get with Paypal, etc. I also don't think the reporting on bank transactions over $600 hasn't actually gone through yet, after all the backlash they dropped it. I think its $10,000 for now.
As far as paying taxes and the morality of it, I'm looking at it purely from the point of view of how much I have to mark up items to cover all the fees from paypal, ebay, taxes from the government, expensive shipping, etc. Those costs need to be reflected in the cost depending on the method of sale. Sad thing a lot of us who just casually buy and sell didnt think we'd have to deal with this and dont have great records for the cost basis. Not to mention the labor involved.
