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PayPal e-mailed notices saying that it will be providing acc'nt info to IRS |
I don't understand a lot tax stuff yet... I'm assuming this would only affect those that make a lot of money through paypal? I don't think I even got one of those e-mails. Anyone know any more info? |
looks like it pertains to debit or credit cards issued from offshore countries (commonly used as tax havens for people who are trying to evade taxes by hiding income in offshore accounts) I do not think this will have an effect on honest pay pal people. |
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I didn't recieve this email,did anyone here? |
Not me.... This reminds me...one time a story was going around that eBay was gonna provide information to the irs too. I never heard if that actually happened either. |
:eek: I could be in trouble...j/k |
Better safe than sorry...I always report all I make! Not worth trying to hide it. |
i did not receive anything from ebay or paypal. i hope i dont get nto trouble now. after all the fees, you dont make much money any more |
I don't think this is for regular paypal accounts. But anyway, taxes are only an issue if you are truly making money on ebay and not reporting it, not if you are selling an old designer purse or cell phone or shoes or whatever. That doesn't count any more than a garage sale does. |
I didn't get anything. Might be only for bit time sellers that have a store on there. |
I plan to report all the the money I make as well as all that I've spent for my business, so I'm not overly concerned, but it definitely makes me want to be sure I have everything in order! |
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