1099k 2022 $600 vs $20,000...

[rsgametech]

So if the IRS has delayed the $600 threshold for 2022, does that mean sellers who had their funds tied up who were less than $20,000 now have it released?

It appears ebay is still holding on to my $247 with my under $600 gross for 2022. What gives?

Do I now the right to receive the rest of my funds that were on hold?

Are eBay complying with the law by still holding on to these funds for sellers under $20k who did not hand over the SSN?

https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-t...

[rsgametech]

So eBay are still holding on to sellers funds who did not meet the threshold. Not sure why, law is pretty clear.

 Can someone point me to the law that states eBay can hold on to funds of  the sellers who did not meet the threshold?

Hell, I didn't even make $600 and I cannot get my funds.

[714ricki]

Regardless, just provide the SSN. Get in alignment with everyone else!!! Then, ebay will release your funds. It's an easy decision. 😎

[12345jamesstamps]

I don't understand why sellers are afraid of giving out information to get their money. 

Getting the new real driver's license ID take 3 forms of ID that DMV makes paper copies of those paper ID's you have to bring in. Anything on your iPhone does not count as a ID for the new real ID driver's license which you have to get in person.

Getting a passport they want everything but your blood type.

I am just glad I have my 3rd passport and my real driver's license ID.

And I have 2 debit cards with 2 banks in case there is a future problem with one bank.

[theteamsetguy]

Rsgametech,

Don’t you have social security number or ITIN?

[pburn]

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@rsgametech wrote:

So eBay are still holding on to sellers funds who did not meet the threshold. Not sure why, law is pretty clear.

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Judging from your sales (on this id, anyway), it appears you are an infrequent seller. That's probably why eBay is holding your proceeds. Chances are it has nothing to do with the issuance of a Form 1099-K or nearing the (former) $600 threshold.

@rsgametech wrote:

Can someone point me to the law that states eBay can hold on to funds of  the sellers who did not meet the threshold?

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Can you point to a law that says they can't?

You agreed to the payout terms--including holds on funds--when you signed up to sell on the platform. It's not like eBay tries to hide the procedure--it's covered a number of places in the help pages and user agreement. 

[mtgraves7984]

You still haven't been paid for your October 15th sale? Of course you have the right to receive your funds! But first, have you even signed up for Managed Payments?

[ms.rodriguez*]

Did you give Ebay your social security number?  Did you verify your bank account?   Did ebay ask you for a valid ID?  Give ebay what they want and you will get your money.  Virtually everyone here sells and we have all complied.  

Ebay is going to keep your funds until you comply. After a year or so, they will send it to your state government. Then you can crack your head trying to get the funds. Do NOT be surprised if they ask you for a social security number (even though they probably have it.)  They need to make sure that the funds are released to the correct person.

[1tuna]

this has little to do with the IRS or any forms

its quite simple, you are in non compliance

if you dont want to get with the program and fork over your social security number then ebay does not want to deal with you

in order to sell  with ebay and get your money you need to register with the payment system

part of that is giving them your social security number

@rsgametech 

[mtgraves7984]

"It appears ebay is still holding on to my $247 with my under $600 gross for 2022. What gives?"

@rsgametech 

This has been discussed in a couple of your other posts since early November. It'd be paid by now if you'd only signed up.

[kensgiftshop]

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@rsgametech wrote:

Do I now the right to receive the rest of my funds that were on hold?

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Ya, you have the right to get your funds.

Just give them your SSN and you'll get them.

Or just wait until they are turned over to your state, but you'll probably still have to provide a SSN.

[bonjourami]

'What gives' is the reportable income was never $20.000. That was Paypals threshold for issuing sellers a 1099.You were always responsible to report your earned income from online sales, no matter how small.If you didnt 'hand over' your ss#, you will never get paid by Ebay. In a year or two, check your states unclaimed property division, thats probably where you will find your funds. But be prepared to hand over your ss#.

[susanb1872]

Ebay is not holding on to your funds because of the $600 threshold. They never have and never will. Ebay only is required to report your gross sales but not collect money for the IRS. Everyone else has pointed out the real reason your funds are being held.

[buyselljack2016]

@rsgametech 

Also to be noted, that in conjunction with the, as others have posted, expectation that the funds will be turned over to your state as "unclaimed funds", is that it is quite likely that a %age will be deducted, and be sent to the IRS in your name.

666           ............  apropos ...................

[itsjustasprain]

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@rsgametech wrote:

So if the IRS has delayed the $600 threshold for 2022, does that mean sellers who had their funds tied up who were less than $20,000 now have it released?

It appears ebay is still holding on to my $247 with my under $600 gross for 2022. What gives?

Do I now the right to receive the rest of my funds that were on hold?

Are eBay complying with the law by still holding on to these funds for sellers under $20k who did not hand over the SSN?

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You first posted about this almost two months ago and it has been explained to you repeatedly that you will need to provide your SSN (or a Taxpayer ID Number if you like) for funds to be released to you. Yes - if the gross income goes above a certain point and a 1099 is issued then you will need to account for that on your tax return. The 1099 cannot be issued unless Ebay has your identifying SSN or TIN.

You seem convinced that rewording your questions into other questions is going to somehow win your case for you. It will not. Just provide the necessary info about you and you will receive your money.