Iz in yer PayPal account taxing yer online monies



I'm sure glad I got out of that mess known as Ebay. They built up an empire with their powersellers and slowly turned their back on them with each new policy. No wonder amazon surpassed them in revenue last year. Idiots.
 
So the article basically says that large sellers ($20k revenue or 200 sales) will have this data reported to the IRS, yet they see this as hurting their business. It's called fucking TAX EVASION.

Such gems in the article are a bit ridiculous:
"Upon hearing this news, some New York sellers are surprised they were supposed to report all their eBay.com earnings"
" For scalpers, those who sell many of these collectibles for the sole purpose of profit, this may no longer be as profitable and they may find other means for income. "
"This may cause a resurgence in the use of money orders again after it had lost to Paypal, which was more convenient with quicker turnaround and less non-payment issues. "
 
johu said:
So the article basically says that large sellers ($20k revenue or 200 sales) will have this data reported to the IRS, yet they see this as hurting their business. It's called fucking TAX EVASION.

Such gems in the article are a bit ridiculous:
"Upon hearing this news, some New York sellers are surprised they were supposed to report all their eBay.com earnings"
" For scalpers, those who sell many of these collectibles for the sole purpose of profit, this may no longer be as profitable and they may find other means for income. "
"This may cause a resurgence in the use of money orders again after it had lost to Paypal, which was more convenient with quicker turnaround and less non-payment issues. "
Click to expand...

Didn't ebay remove money orders as a payment method last year?
 
At some point everything will be reported to the IRS. Anything through a financial source, like PayPal. Bank deposits.

Maybe with a VAT the IRS can automatically skim a percentage from your account, so the government doesn't have to wait for you to report the income (or after you have spent it on food).
 
jryan21 said:
Didn't ebay remove money orders as a payment method last year?
Click to expand...
Yes. The article follows the money order statement with another one that basically says "but we're just being sensational since ebay doesn't allow them".
 
you can gamble and win in life against most people. individuals, companies, even politicians looking for re-election.

but why on earth do you fuck around w/ the IRS? uh gee- your sole business is to sell on ebay and somehow you're exempt from paying taxes?

I'm getting so fucking sick of this country.
 
1. Open a corporate in Thailand

2. Hire a $200/month Thailand employee and give him the title BOSS

3. Then put yourself as an employee in the corp

4. ???

5. Profit!
 
I don't see the deal for the people this targets professional business people. I have always reported income I get through any electronic format. It's not like it would take a lot of work for the IRS to follow the paper trail in an audit.
 
Don't panic. Paypal will NOT be retroactively reporting income from previous years. It is *starting* in 2011. You must also have 200 transactions or $20,000+ in income for it to apply to you.

Just to be safe, I am reporting all my previous income anyway, since a large portion of it comes from paypal and I'd rather just pay up now than face years of backtax penalties. You definitely won't go to jail over it, but you will end up in debt. Better safe than sorry, as the saying goes.
 
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