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Community Member
Posts: 8
Registered: ‎02-09-2010

IRS taxes to come to Paypal & EBAY January 2011

Once again the US Government is controling how much money people can make on the side by imposing TAXES on E-BAY purchases through PAYPAL.You can't have over 200 payments on paypal or the government will get you for taxes,nor can you make over $20,000 in a year.BIG BROTHER is now controling just how much the poor person can make selling USED items on EBAY.EBAY,an online flea-market sort o speak.
This is just another example of how the BIG BROTHER squashes the little guy,yes,you can be a entrapenure,and run a small business from your home,but BIG BROTHER,in all it's patheticness and dowright GREED now wants US,the little guys,to pay for their misgivings and over spending.
I for one have been enjoying selling on EBAY for quite some time,and now,that must come to an end.Why,EBAY won't even let us accept money orders from people,because they want those absorbent FEES from us for PayPal,plus EBAY wants us to pay a "percentage" of what we get for an item,so with all those fees and percentages being taken out,and now,BIG BROTHER wants us to PAY EVEN MORE of our hard earned money,it just isn't worth it anymore to sell on EBAY.
I for one will be seeking other,less obtrusive selling avenues,other than EBAY to sell my items,if not,I just won't sell anything again.
I refuse to be victimized by BIG BROTHER or anyone else.
EBAY and PayPal will be out of business within a year or less,because I feel I am not the only one outraged at this disgusting turn of events!
Comments welcome to me by other sellers at swordsbane@aol.com.
I'd like to hear from you.
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Community Member
Posts: 14
Registered: ‎12-12-2008

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
They will tax you or simply give you a 1099MISC income statement as they should.

Thank you for visiting my store!

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Community Member
Posts: 2
Registered: ‎10-11-2010

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
If you doing more than $20K it's probably not a hobby selling used stuff out of your garage. That would be a business and subject to take anyway. There's really no change here other than making it harder for people to cheat their taxes.
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Community Member
Posts: 2
Registered: ‎10-11-2010

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
take - tax
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Community Member
Posts: 10
Registered: ‎11-26-2008

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
not if you make more than $20,000,,, if you do more than $20,000 in sales,,,,,

I'm going to argue that I was bartering with cash as a medium since I'm unemployed and Items I sell are from personal collections.

theres a few other posts about this on other boards,,

I use my paypal card for all postage, supplies and business,,,, I'm using the term loosely,,,,, purchases.

Print paypal balance Jan1,
Print paypal balance Dec 31,,,,

If its more you made money, the rest is unprovable and the IRS has to prove things these days.
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classyladyking
Community Member
Posts: 83
Registered: ‎12-22-2007

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
not if you make more than $20,000,,, if you do more than $20,000 in sales,,,,,

I'm going to argue that I was bartering with cash as a medium since I'm unemployed and Items I sell are from personal collections.

theres a few other posts about this on other boards,,

I use my paypal card for all postage, supplies and business,,,, I'm using the term loosely,,,,, purchases.

Print paypal balance Jan1,
Print paypal balance Dec 31,,,,

If its more you made money, the rest is unprovable and the IRS has to prove things these days.


The IRS does not have to prove you did not make a profit. You do.

The IRS just has to prove you have income or assets that you could not have on the reported income.

The IRS will tax you on every penny you receive unless you can prove you have a qualified deduction.

The change is not in what is taxable. Most of your ebay sales should be reported somewhere on your return any way.

The only thing that is changing is now the IRS requires ebay and pay pal to report the sales so they can make sure you are reporting what you were suposed to be doing any way.
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faeries_finest
Community Member
Posts: 772
Registered: ‎08-09-2009

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
Once again the US Government is controling how much money people can make on the side by imposing TAXES on E-BAY purchases through PAYPAL.You can't have over 200 payments on paypal or the government will get you for taxes,nor can you make over $20,000 in a year.BIG BROTHER is now controling just how much the poor person can make selling USED items on EBAY.EBAY,an online flea-market sort o speak.

You can make as much money as you want. In fact, the government wants you to make lots of money. They also want to make sure you are paying the taxes that you legally owe. Those taxes aren't new.

I for one have been enjoying selling on EBAY for quite some time,and now,that must come to an end.

Why? Because the IRS will find out that you have not been reporting all your income? That seems like throwing out the baby with the bath water.

I refuse to be victimized by BIG BROTHER or anyone else.

An admirable sentiment but how does that apply here?

EBAY and PayPal will be out of business within a year or less,because I feel I am not the only one outraged at this disgusting turn of events!

This isn't about eBay at all. It isn't even about PayPal. It is about all payment processors. It is a federal law. eBay and PayPal did not cause. You did. How? By not paying legally owed taxes on the profit you made selling.

I already claim all my revenue. Having it reported to the IRS won't change anything.
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njpcompany
Community Member
Posts: 43
Registered: ‎03-12-2008

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
I don't think it's a matter of the government controlling how much money you make, only you have control over that. You make the money, you owe the taxes. It's pretty simple fact of running a business, here in the U.S. or many other countries.

I claim my income from eBay sales, so nothing new for me either.
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charmlinda
Community Member
Posts: 742
Registered: ‎09-01-2003

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
I would argue that we should all be mad about paying taxes WE OWE but.....

I like going to the bathroom INDOORS and want that and a few other services/infrastructures my tax dollars go towards keeping up to continue!

And I agree with Fairie.....I feel you are just upset cause you will get caught not paying on what you should have been paying for all this time.

By the way....I was once in a barter service club...that is taxed as well. Bad argument.
Michael J...

If you're talking, you're not listening....If you're not listening, you're not learning.
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rosachs
Community Member
Posts: 1,686
Registered: ‎11-19-2002

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
and now,BIG BROTHER wants us to PAY EVEN MORE of our hard earned money

Sorry, but income from garage sales, yard sales, and even bartering has been taxable for decades. Do not confuse taxable with enforced. The IRS is smart enough to realize that sending a $50,000 a year agent to collect taxes on a $500 once-a-year garage sale is stupid and not cost effective, so they don't. But that doesn't mean they won't asses income taxes if they have proof of income that is not showing up on your Form 1040.

And it's not even the government you should be mad at!! The IRS didn't make the law -- they only enforce the laws that are on the books. The law was created by our elected officials - US Senators and US Representatives, and signed into law by our previous President.

But you can't blame Congress and the President... they didn't dream this stuff up... they just bowed to the wishes of their constituents -- the people who voted them into office. Which would be you and/or your neighbors... and the folks down the street... and the next street over... and downtown... and...well...just about everyone.

Or at least everyone who takes the time to VOTE.

-Bob.
RKS Solutions LLC logo
Ask me about my selling tools - I'm happy to share!
V.46 Trading Assistant/Consignment sales, since 1997!
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faeries_finest
Community Member
Posts: 772
Registered: ‎08-09-2009

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
You mean we are BIG BROTHER?
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books_n_more
Community Member
Posts: 37
Registered: ‎06-28-2008

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
As Pogo Possum said, "We have met the enemy and he is us."
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Community Member
Posts: 10
Registered: ‎10-22-2003

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
THE IRS WILL PUT EBAY OUT OF BUSINESS, THEN THE WILL GET NO TAXES, FROM EBAY OR THE SELLERS
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Community Member
Posts: 10
Registered: ‎10-22-2003

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
I HOPE EBAY NOTIFIES THE SELLERS WHEN THEY GET TO 199 SELLS AND/or TO $19,995
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faeries_finest
Community Member
Posts: 772
Registered: ‎08-09-2009

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
eBay will not issue a 1099. Payment processors are the ones subject to the new tax regulation.
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Community Member
Posts: 183
Registered: ‎08-27-2007

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
the rules on taxation are not changing at all. some of us will simply get a statement of sales that have occurred. the taxes and generous deductions remain.
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Community Member
Posts: 10
Registered: ‎10-22-2003

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
ebay will be out of business by june 2011
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faeries_finest
Community Member
Posts: 772
Registered: ‎08-09-2009

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
ebay will be out of business by june 2011

I've seen similar predictions since I started selling on eBay. Obviously none have come true yet.
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frankcoins
Community Member
Posts: 60
Registered: ‎09-23-2004

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
George Bush signed this into law July 2008.
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Community Member
Posts: 1
Registered: ‎11-21-2010

Re: IRS taxes to come to Paypal & EBAY January 2011

in reply to fantasyrealm0_3
I could be wrong. But, how can the money you make at a garage sale be taxable? If you are selling lets say baby clothes in your garage sale for a loss because they are used. Then you should be able to claim a loss, right?
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