mam98031 • Volunteer Community Member • Buyer/Seller since 1999
Thank you for the info. I've read most of that before and it confirms what I've said all along. No member of Ebay fell victim to these bad actors. But thank you for the information, others will likely find it very interesting.
@kkinetic-shop wrote:If enough ppl fight it ... maybe ebay will allow sellers to use paypal as an option. Seems like there are a ton of ppl who, like me, chose to sell on ebay BECAUSE, ebay uses paypal. I am one of those ppl who is not into giving out my SSN to some rinky dink payment manager that has no proof of security or even proof of success. Clearly this is a new system being unveiled. If there is one thing we all know about new tech .... it has bugs and often fails a couple of time until they get it right. Asking for a bank acct is a huge deal. Asking for my social and my bank acct. that is a lot of person info I am trusting you with. I seriously doubt that an online seller has the rigid security protocol that a financial institution or a company that was established solely on practice of handling/transferring money. For me it has Nothing to do with taxes. It has EVERYTHING to do with trust. I love ebay... but lets be honest .. its buggy AF. And that is just on creating listing pages... that doesn't give me much confidence about the money management end.
Ebay isn't going to do that anymore than when they made PP mandatory many years ago. All kinds of posters said all the same things about PP but Ebay stayed the course and they will with MP too.
"Tons" of sellers are not likely leaving Ebay. Some most certainly will and Ebay expected that. But sellers that are profitable here and run a little business are far more likely to stay because it doesn't make for a good business decision to leave. But micro sellers and casual sellers have a more difficult time with this and I absolutely respect that. It is certainly a decision for each of us to make.
You are making some assumptions about the security of our financial info to include SSNs that just aren't accurate. But that is for you to decide for yourself. Learn the facts and make an informed decision or run with assumptions and make your decision. That is completely up to you.
Ebay has protected our personal and financial information for over 25 years. And they have had both. Some sellers sigh up for automatically paying their monthly Seller invoice in past years. So they attached a Credit card of a bank account. So protecting this info isn't new to Ebay and because you give them your information doesn't suddenly mean they are just going to stop protecting it. That wouldn't make sense.
@theme2655 wrote:You are right. If someone buys something for $50 and uses it then it sits in the garage/closet for 3 years; then they sell it for $10 on eBay it's a LOSS. Again, the IRS doesn't care if you make less than $2500 at a garage sale so why do they care if you make ( or lose) $100 on eBay ? If this is the law its been in place for YEARS not just starting in December. This is eBay not the IRS.
There you go again, there is NO $2,500 minimum threshold for IRS. You are saying this again when it has no basis in fact. So since obviously you are convinced you are correct. Simply BACK IT UP with a link to the IRS rule that states this. That should be simple to do.
You just need to stop this, you are potentially going to cause FINANCIAL HARM to a REAL person if they take what you have said to heart. Why in the world you do that?
https://www.irs.gov/businesses/gig-economy-tax-center
https://www.irs.gov/pub/irs-pdf/i1040sc.pdf
https://www.irs.gov/newsroom/gig-economy-tips-taxpayers-should-remember
