LBlack14 That's not the Fed IRS. Doesn't go into effect til next year when everyone will pay.
That limit is something set by PP only for accounts. They do various holds for various reasons, esp. when shipping. They hold the funds until the buyer shows proof of delivery, or you do with the tracking number. They actually will hold up both sides of the deal. Never much of anything negative that I've read about. Just pissing people off when they do that.
IL has a limit outside the Fed IRS, of $600. A few other states do also. 'Migrant' states, perhaps, haven't checked them all yet.
I've never had a PP problem even with all the payments I've got for all those clamps/pullers.