Still selling over 6 hundred since the changes?

[timebanditz1970]

Yep, well, it's everyone's choice but i am sure 90% of sellers have no idea about the new implications of this policy, which is also now in effect for Venmo, PP, and other previously untaxed revenue sources. Over 600 in sales, IRS requires your info on a 1016 from the Bay, yep, and to send it your ZZ number will be required by the bay from you, and what could possibly go wrong with your most personal data going to an intl co. or who knows where? On socSecurity, its now taxable income, be sure to keep track, as the 22percent tx rate kicks in also.

   So that item sold for 100, after feez 12%, 78, and after 22persent gov tax now gets u 78 bux, not including hassle, etc. wow, didn't know this scheme, did you.. Happy 22 tx sesean!

[luckythewinner]

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@timebanditz1970 wrote:

we now give free baby formula

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For the past 25 years, the US government has been required to provide food (including baby formula for infants) to any minors in their custody.

This was true when Trump was president, and it was true when Bush was president. 

But hey, this is America. So you have the right to not let nuance get in the way of your agenda. 

[5594shelleys]

Correction:

For the past 25 years, the responsible US taxpayers have been forced to provide food (including baby formula for infants) to any minors in their custody.

Some forget WE are the government. Are taxpayers really okay with supporting all their agendas?

[mandisattictoyz]

I’ve always felt if you can not provide for a child, then don’t have one.  I waited until I was 38 to have my fist born, because A) I didn’t want to be like my parents and have nothing and never give me an opportunity to have a childhood life, and B) if you can not afford to support another human being then why even reproduce?

most people living off the govt spend their own money unwisely, like buying pets, drugs, cigarettes, stuff these people never need while not being able to support their own child dependently.

[luckythewinner]

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@5594shelleys wrote:

Some forget WE are the government.

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We are not the government.  We are citizens who elect some of the people who make up the government.

[timebanditz1970]

As I do, and a good point, BUT my concern is do you really WANT ebay to now not only have the ability to do what the want with your bank acct, but ALSO to have your ss# and most personal information in an int'l company with thousands of people able to access it for only 600 bucks? Remember, ebay also has every bit of your info, and if your read the small print on their notifications they have a LOT of power over you, your bank acct and data, before it was always 10,000, now 600 bucks.

We all pay taxes, but intelligent taxpayers actually understand ramifications of identity disclosure or when we are being connived to.

[timebanditz1970]

Nope, read the posts, they have no idea what disclosing a ss# can do to them, and the bay is an INTL run company with who knows where this info goes, ever heard of the dark web, or identity theft, would you give a stranger 

who sold you a banana your ss#?

99% of Americans are completely clueless re.. their info safety, that's why identity theft is the #1 crime in America today.

BTW- i have a feeling many of your "income" items may have been "inadvertently" forgotten to be reported, as per your sales and listings.

[kensgiftshop]

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@timebanditz1970 wrote:

As I do, and a good point, BUT my concern is do you really WANT ebay to now not only have the ability to do what the want with your bank acct, but ALSO to have your ss# and most personal information in an int'l company with thousands of people able to access it for only 600 bucks? Remember, ebay also has every bit of your info, and if your read the small print on their notifications they have a LOT of power over you, your bank acct and data, before it was always 10,000, now 600 bucks.

We all pay taxes, but intelligent taxpayers actually understand ramifications of identity disclosure or when we are being connived to.

---

Ebay has had access to my checking account since I started selling here and the only time they have taken any money, is what I owed.

No, they don't have the ability to do what they want with your checking account.

As far as the International company having our information, I've been using them for years on another site and have had no problems with them.

If you don't think your most personal information isn't already available on the dark web, don't know what to say.

[maxine*j]

As for the SSN:

You must provide it anytime you are doing anything reportable to the IRS or your state's tax department.

You must also provide it anytime you engage in any transaction subject to the Customer Identification Program provision of the US Patriot Act which includes, but is not limited to, giving it to:

-- Companies from which you are applying for credit: credit cards, loans of any type, cell phone service

-- Your department of motor vehicles

-- Employers
-- The three main credit reporting agencies: Equifax, Experian, and TransUnion
-- Investment advisors and brokerage houses
-- Banks
-- Companies with which you have a cash transaction of $10,000 or more: car dealerships, RV and boat dealerships, etc.
-- Companies facilitating real estate transactions

-- Federal and state agencies when applying for benefits: Social Security, Medicare, Disability, Medicaid, and other aid programs`

For decades, most schools used SSNs as student ID numbers, so if you are over about 40 years of age and attended any school in the US, it probably has your SSN.   SSNs were also commonly used as identifiers for medical records, and I'll wager it's in your medical records if you are over 40 years oa age.   And on and so on.

So getting all knotted up because eBay's  has the same information seems a waste of time and energy that would be better spent in vigilance, in taking precautions to protect all that personal info that is already out there.

-

[amricons]

There are dozens of new IRS 1099 regs including the 1099 that covers eBay sales. They go from $10 to infinity.

[kalyoth]

Sellers who accept payments from payment cards (Source now unknown thanks to ebay Managed Payments) as of the 2022 Tax Filing year (2021 Calendar Year) must now be issued a 1099-K form representing total dollars & transactions processed. There no longer is a total sales dollar threshold anymore for the US IRS. Individual states may vary. This was a change passed by the US Congress to finance one of the Covid Relief Payments to US Residents in 2021.

[rosachs]

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@mandisattictoyz wrote:

So you admitted on a public forum written on the Internet in ink with your name on it that you have not reported income on your taxes.  And by the name it appears you must be 50+.  So how long have you been withholding?  So I can now blame you when things change for the worst because you are part of the problem.  It’s a system and of the system isn’t followed a new system gets put in place to make it so everyone has to participate, so you wonder why this new system is in effect, well you just explained it in your own words.

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I look at it this way, and I mean no disrespect to the large numbers of 'weekend sellers' who just want to get rid of a few things and maybe get a night out in exchange:  maybe this is the wind that will help separate the chaff from the wheat.  That is, those sellers who simply don't care enough to worry about how much they sell, or those who don't report on purpose.  With every major/growing venue doing the same, maybe they'll just leave the online sales arena and find something else to occupy their spare time.

"Do it till it ain't no fun no more" is the business plan of far more people than many would think.  If they have to play by the rules, they just won't play.  And I'm really quite fine with that -- fewer sellers undercutting my prices can only help my sales, right?

-Bob.

[theteamsetguy]

Don’t forget most medical insurance companies used your social security number on their insurance cards. The cards were given to every doctor or pharmacy you went to.

[theteamsetguy]

I think they should change all to the $10.00 limit. Uncle Sam needs the revenue to lower the budget deficit.

[itsjustasprain]

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@kalyoth wrote:

Sellers who accept payments from payment cards (Source now unknown thanks to ebay Managed Payments) as of the 2022 Tax Filing year (2021 Calendar Year) must now be issued a 1099-K form representing total dollars & transactions processed.

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How does the source of the payment matter? Back when we were all using Paypal the seller did not see the payment source then either.

[downunder-61]

Quick question - with your SSN is it issued to  you on your birth? I read somewhere that was the case.

Over here we call it a TFN - Tax File Number only issued once we apply for it when we get our first job.

@itsjustasprain