Though I hadn't heard about this before, it's not surprising. I found an article about this, dated from October.
nbc-2.com/news/2021/10/08/irs-to-start-taxing-certain-money-transfer-app-users/As far as I can tell, it can and will only apply in cases of business, often self employment/independent contractor income. Also that the rules themselves didn't actually change, but it may be another avenue where the IRS may perform an audit. It's always been the case that $600 in gross revenue as an independent contractor/self-employment would be subject to self-employment taxes.
If you're such an individual who already paid the appropriate income taxes, that you'd have nothing to worry about. Giving money to friends, splitting a tab at a bar or restaurant, etc. or giving money to family members is not subject to this. In an audit, it's quite obvious which cases are which.
Receiving certain sweepstakes prizes can be considered income as well, actually. Though whether that's considered ordinary income or gambling winnings isn't entirely clear.
A lottery jackpot, or actually managing to make money on casino winnings is considered gambling winnings, which is taxed at a much, much higher rate, likely because it was NOT the result of economic output, but because someone else had to lose it, and after the house takes it's cut, that's what's left.
But if you're say, a sex worker who was often relying on this sort of thing for tips and/or sale of content or services, and didn't pay self-employment taxes, this ends now. But, you should probably pay it anyway, since it can effect the eventual size of Social Security checks, assuming you aren't collecting them yet.
