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IRS and ?ou

BaronisBaronis Member Posts: 2 ✭✭
edited May 2011 in General Discussion
This is just a reminder that PayPal and other payment service providers are required by the IRS to report the sales income of each of its members. Though the reports are due January 1, 2012 the data is now collected for submission by that date.
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    GuvamintCheeseGuvamintCheese Member Posts: 38,932
    edited November -1
    Hmmmm.
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    mateomasfeomateomasfeo Member Posts: 27,143
    edited November -1
    Thanks, man!

    See ya again next year!
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    LaidbackDanLaidbackDan Member Posts: 13,143 ✭✭✭
    edited November -1
    Is this one of those conspiracies I keep reading here? Why would the IRS take yen as payment from Paypal?
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    FrancFFrancF Member Posts: 35,278 ✭✭✭
    edited November -1
    Glad I don't use paypal.
    Amazon Tax Bill Passes State Assembly
    http://www.nbclosangeles.com/news/politics/Amazon-Tax-Bill-Passes-State-122907299.html
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    woodshed87woodshed87 Member Posts: 25,785
    edited November -1
    And You Sir Are A Retired IRS Agent?[:o)] Welcome OMAR ...quote:Originally posted by Baronis
    This is just a reminder that PayPal and other payment service providers are required by the IRS to report the sales income of each of its members. Though the reports are due January 1, 2012 the data is now collected for submission by that date.
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    RogueStatesmanRogueStatesman Member Posts: 5,760
    edited November -1
    I don't believe this in the least. Baronis hasn't provided a shred of evidence, no testimonials and no facts to support his claim. The IRS would NEVER do such a thing and I think this is just one of those made-up conspiracies to get me to sell my stuff and move to the basement. Y'all have absolutely NOTHING to worry about-this is a lie!!
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    RogueStatesmanRogueStatesman Member Posts: 5,760
    edited November -1
    ^^^^
    I wonder if I should've put most of the above text in GREEN? Yeap, I should have!!

    [;)][:D][:D][8D][8D][;)]
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    we_dig_itwe_dig_it Member Posts: 6,614 ✭✭✭
    edited November -1
    freakin great.....
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    armilitearmilite Member Posts: 35,483 ✭✭✭
    edited November -1
    You have to sell like $3k a year on ebay for this to be reported. Besides paypal locked my account so I'm not worrying one way or another.
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    thorhammerthorhammer Member Posts: 956 ✭✭✭
    edited November -1
    I checked this out on flea-bay or paypuke, and the truth is they will

    report any funds collected over $20,000 and 200 sales on flea-bay.

    they will not report a $20,000 transaction unless the seller does 200

    transactions.

    This was something the goverment required to crack down on tax cheats.

    This is my fuzzy recollection and things can get updated without our

    knowledge.

    Or just wait for the 1099 in your mail box.[xx(]
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    moonshinemoonshine Member Posts: 8,471
    edited November -1
    wife did $2000 worth of work on the side for the local grabage co. and they hand to render a 1099, which put us in another tax bracket
    and I had to PAY.
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    dcon12dcon12 Member Posts: 31,942 ✭✭✭✭
    edited November -1
    quote:Originally posted by moonshine
    wife did $2000 worth of work on the side for the local grabage co. and they hand to render a 1099, which put us in another tax bracket
    and I had to PAY.



    Use spell check or quit drinking would be my suggestion. Don
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    armilitearmilite Member Posts: 35,483 ✭✭✭
    edited November -1
    quote:thorhammer
    Junior Member

    USA
    167 Posts

    Posted - 05/31/2011 : 11:10:25 PM Show Profile Email Poster Reply with Quote
    I checked this out on flea-bay or paypuke, and the truth is they will

    report any funds collected over $20,000 and 200 sales on flea-bay.

    they will not report a $20,000 transaction unless the seller does 200

    transactions.

    This was something the goverment required to crack down on tax cheats.

    This is my fuzzy recollection and things can get updated without our

    knowledge.

    Or just wait for t

    That was it I just didn't remember the amount of money.
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