IRS Wants Access to eBay Seller Data - GoFuckYourself.com

u-Bob · 02-28-2007, 06:32 AM

Beginning in 2008, the federal government has proposed that auction houses like eBay report any customer who carries out more than 100 transactions above $5,000 USD. The law is being proposed because many are not reporting income from such sources.

Under the current scheme, there is no way that the federal government can monitor the auction incomes of sellers without actually checking the auctions themselves. Under the new rule, the responsibility to report would fall on the auction company.

http://www.betanews.com/article/IRS_...ata/1172519585

jact · 02-28-2007, 06:34 AM

It's the way it's all going.. Eventually they'll have to raise their rates to huge numbers just to accommodate the new departments devoted simply to ratting everyone out.

spacedog · 02-28-2007, 06:36 AM

Fucking scumbags they are..

I pay tax on my income,, then spend that income on shit.. so now if I want to sell some of that shit, i get taxed on money I already got taxed on before spending it, so if I make a sale, I'm getting spent taxed money back to be retaxed again.

junction · 02-28-2007, 07:53 AM

Quote:

Originally Posted by spacedog

Fucking scumbags they are..

I pay tax on my income,, then spend that income on shit.. so now if I want to sell some of that shit, i get taxed on money I already got taxed on before spending it, so if I make a sale, I'm getting spent taxed money back to be retaxed again.

Well fucking said.

Probono · 02-28-2007, 12:05 PM

Quote:

Originally Posted by spacedog

Fucking scumbags they are..

I pay tax on my income,, then spend that income on shit.. so now if I want to sell some of that shit, i get taxed on money I already got taxed on before spending it, so if I make a sale, I'm getting spent taxed money back to be retaxed again.

Then your income from Ebay would not be taxable under US tax laws. They are looking for all the "businesses" on ebay not the average user that is why the numbers are the way they are

"customer who carries out more than 100 transactions above $5,000 USD"

Kimo · 02-28-2007, 12:13 PM

that is mad gay

Shoehorn! · 02-28-2007, 12:26 PM

I know a few people who are going to be fucked when this happens.

Sinstar · 02-28-2007, 12:37 PM

I'm not supprised at all.

woj · 02-28-2007, 12:41 PM

Quote:

Originally Posted by Kimo

that is mad gay

They just want ebay businesses to pay their taxes... What am I missing?

DaddyHalbucks · 02-28-2007, 12:46 PM

Hahahaha, the party's over.

96ukssob · 02-28-2007, 12:47 PM

BS! they should have to pay taxes on all transactions

If we have to pay taxes (US above $600 anually) then so should they.

RawAlex · 02-28-2007, 01:22 PM

Alternately, the government could require all EBAY sellers to have a business license, and have EBay provide a list of sales / revenue for each company each year.

crockett · 02-28-2007, 01:41 PM

Quote:

Originally Posted by spacedog

Fucking scumbags they are..

I pay tax on my income,, then spend that income on shit.. so now if I want to sell some of that shit, i get taxed on money I already got taxed on before spending it, so if I make a sale, I'm getting spent taxed money back to be retaxed again.

It's called double dipping and our tax laws seems to take great advantage of it. I've always supported just a simple flat tax, would make things much more fair for everyone and much simpler.

JMM · 02-28-2007, 02:00 PM

Quote:

Originally Posted by Probono

Then your income from Ebay would not be taxable under US tax laws. They are looking for all the "businesses" on ebay not the average user that is why the numbers are the way they are

"customer who carries out more than 100 transactions above $5,000 USD"

Not true.

Even though ebay is not required to report the smaller numbers, you as a tax payer are required to report it.

If you open an ebay account, sell your 3 pairs of skinny jeans for $10 each, then close your account you are required to report that income.

Freedom isn't free.

kane · 02-28-2007, 02:28 PM

From what I have been told if you sell anything on ebay for a profit you have to report it. So If I bought a book for $2 at my local store, read it then sold it on ebay for $3 I have to pay taxes on that $1 in profit. I would imagine there are a lot of people that buy and sell a lot of stuff and don't ever report the income.

My all time favorite moment involving ebay was back in around 2001-2002 when the economy was really in the shitter and Dick Cheney actually said that it wasn't as bad as people thought because of ebay. He said, "That's a source that didn't even exist 10 years ago," Cheney told an audience in Cincinnati on Thursday. "Four hundred thousand people make some money trading on eBay."

Classic.

02-28-2007, 06:32 AM	#1
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	IRS Wants Access to eBay Seller Data Beginning in 2008, the federal government has proposed that auction houses like eBay report any customer who carries out more than 100 transactions above $5,000 USD. The law is being proposed because many are not reporting income from such sources. Under the current scheme, there is no way that the federal government can monitor the auction incomes of sellers without actually checking the auctions themselves. Under the new rule, the responsibility to report would fall on the auction company. http://www.betanews.com/article/IRS_...ata/1172519585

02-28-2007, 06:34 AM	#2
jact Confirmed User Join Date: Sep 2002 Location: Oakville, Canada Posts: 9,134	It's the way it's all going.. Eventually they'll have to raise their rates to huge numbers just to accommodate the new departments devoted simply to ratting everyone out. __________________ Free agent

02-28-2007, 12:13 PM	#6
Kimo ... Join Date: Jan 2006 Location: Maryland ICQ:87038677 Posts: 11,542	that is mad gay __________________ ...

02-28-2007, 12:26 PM	#7
Shoehorn! Die With Your Boots On Join Date: Oct 2003 Location: Hawaii Posts: 22,872	I know a few people who are going to be fucked when this happens. __________________

02-28-2007, 12:46 PM	#10
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Hahahaha, the party's over. __________________ Boner Money

02-28-2007, 06:36 AM	#3
spacedog Yes that IS me. Bitch. Industry Role: Join Date: Nov 2001 Posts: 14,149	Fucking scumbags they are.. I pay tax on my income,, then spend that income on shit.. so now if I want to sell some of that shit, i get taxed on money I already got taxed on before spending it, so if I make a sale, I'm getting spent taxed money back to be retaxed again.

02-28-2007, 12:37 PM	#8
Sinstar Confirmed User Join Date: Mar 2006 Posts: 1,206	I'm not supprised at all.

02-28-2007, 12:47 PM	#11
96ukssob So Fucking Banananananas Industry Role: Join Date: Mar 2003 Location: If I was in your ass you'd know it Posts: 12,991	BS! they should have to pay taxes on all transactions If we have to pay taxes (US above $600 anually) then so should they. __________________ Email: Clicky on Me

02-28-2007, 01:22 PM	#12
RawAlex So Fucking Banned Join Date: Oct 2003 Location: In a house. Posts: 9,465	Alternately, the government could require all EBAY sellers to have a business license, and have EBay provide a list of sales / revenue for each company each year.

02-28-2007, 02:28 PM	#15
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	From what I have been told if you sell anything on ebay for a profit you have to report it. So If I bought a book for $2 at my local store, read it then sold it on ebay for $3 I have to pay taxes on that $1 in profit. I would imagine there are a lot of people that buy and sell a lot of stuff and don't ever report the income. My all time favorite moment involving ebay was back in around 2001-2002 when the economy was really in the shitter and Dick Cheney actually said that it wasn't as bad as people thought because of ebay. He said, "That's a source that didn't even exist 10 years ago," Cheney told an audience in Cincinnati on Thursday. "Four hundred thousand people make some money trading on eBay." Classic.