How is it that the IRS has the power to gather information on cash transactions made on platforms like Venmo and PayPal?

How is it that the IRS has the power to gather information on cash transactions made on platforms like Venmo and PayPal? @EconWithNick and @normative explore on the @CatoPodcast… https://t.co/DeF9HVt7Q2 #CatoEcon pic.twitter.com/tMWI3L3g0r

— Cato Institute (@CatoInstitute) July 14, 2022