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

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.

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. :Oh crap

Well fucking said. :thumbsup

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"

that is mad gay

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

I'm not supprised at all.

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

Hahahaha, the party's over.

BS! they should have to pay taxes on all transactions

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

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.

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.

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.

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.