mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@dotllama wrote:I have been selling on Ebay for the last couple of years without providing my SS#. So I would imagine that Ebays customer service was correct in saying that providing a SS# is something new that Ebay is planning to impose on low volume sellers like myself. It appears that I was correct in making that statement that Ebay got hacked. Even Experian was hacked and the hackers got lots of SS #'s. So it should come as no surprise if someone eventually compromises Ebay and obtains your SS#.
I have no answer for you. You seem to have slipped through somehow but I would not know how.
Yes, I said there was a hacking of Ebay in 2014. It is not a secret and has been well covered over the years. Something however you should be aware of is that this is not Experian and what happened to Experian does not mean that happened to Ebay. Two completely different companies.
As I explained in my other post to you @dotllama, Ebay did not lose ANY, ZERO, ZIP financial info to any of the hackers because while they were able to get into the system they were unable to break the encryption codes to access financial info on members.
So you are welcome to be concerned because Experian lost financial info to hackers, but it is unfair to put that on Ebay as they did not lose any financial info to hackers. In fact you were PROTECTED.
Now that is not to say Ebay can't get hacked at a higher level. That can happen to any site and any time. All internet sites risk being hacked.
@700silverv wrote:Well unless something has changed, that is the IRS's stance, but if you receive a 1099k then you need to do your return correctly, that's why cash is king until you can no longer use it.
You need to do your return correctly with or without a 1099K.
You have a MAJOR misunderstand like so many others. The threshold on an IRS FORM, ANY FORM, does not set the minimum for reporting income to IRS. The 1099K is merely a FORM and nothing more.
When the minimum threshold on the FORM was 20K, that met that only those that made above that got the FORM. What it DID NOT mean was that anyone below that 20K did not have to report their income to the IRS. And that is likely what will get some people in trouble because they assumed something that was not ever based in FACT. IRS does NOT HAVE a minimum requirement on reporting your income. So even when the FORM threshold was 20K, those that made 15K, 10K, 5K, 1K, etc. were still responsible for reporting their income.
Everyone needs to remember that the 1099K is ONLY A FORM and nothing more. It does NOT set the minimum requirements to report income to the IRS. That would be like saying if you don't receive a 1099K for ANY type of income you receive, you don't have to report your income and that is ridiculous. The 1099K only covers internet related payments. It doesn't cover when people are paid by check or any other form. So to think that the 1099K has the power to set the minimum standard for all of IRS, all those people that are NOT paid via the internet would not have to claim their income, which we all should know is not true.
@rayz-cardz wrote:We have not had to supply a 1099k form for decades on eBay. Now siceits said a 1099k is nothing more than a form? I bet to differ. Just another way for the government to watch you like a hawk. Heck there even watch it my ebay bank account. And I mean dollar for dollar and they will have a huge attitude if you don't tell them you opened up a we bank acct somewhere. They even have my bank reporting my info to them. Like I make 10s of thousands. Its right on down to like a grand to $2,500 a year. It pays for car repairs and emergency problems. Government gets daily reports. They watch what u buy and what u sell. 1099k now is just another way to keep a closer eye on us all. Never was like this til the prior president got in. Right on down to driver licenses its got. 1099k are sent to everyone now. Watchful eyes are on us all now.
It is and has always been just a FORM, like any of the other 1099 forms and there is a dozen or so of them.
"Heck there even watch it my ebay bank account. " Ebay doesn't offer "bank accounts". Are you talking about your money in your Managed Payment account or your money in your bank account you have attached to your MP account? And who is "there [they]"?
Banks do not report transactions to the IRS unless you have a transaction for $10,000 or more. IRS doesn't have the staff or desire to monitor bank accounts that closely. That is some rumors being passed around by those that like to discern mis-information in an effort to upset people.
The current LAW is banks have to report to the IRS a deposit into your bank account of $10,000 or more.
@rayz-cardz wrote:By the way they even watch how much cash you put in and take out of the bank. Really? They sure do. I know. They tell me the acct. Balance. Not kidding.
@rayz-cardz wrote:We have not had to supply a 1099k form for decades on eBay. Now siceits said a 1099k is nothing more than a form? I bet to differ. Just another way for the government to watch you like a hawk. Heck there even watch it my ebay bank account. And I mean dollar for dollar and they will have a huge attitude if you don't tell them you opened up a we bank acct somewhere. They even have my bank reporting my info to them. Like I make 10s of thousands. Its right on down to like a grand to $2,500 a year. It pays for car repairs and emergency problems. Government gets daily reports. They watch what u buy and what u sell. 1099k now is just another way to keep a closer eye on us all. Never was like this til the prior president got in. Right on down to driver licenses its got. 1099k are sent to everyone now. Watchful eyes are on us all now.
Banks are required to report when customers deposit more than $10,000 in cash at once. A Currency Transaction Report must be filled out and sent to the IRS and FinCEN. The Bank Secrecy Act of 1970 dictates that banks keep records of deposits over $10,000 to help prevent financial crime.
