Why doesn't ebay make an announcement about the new sales threshold going from $20,000 to $600 going

[mtgraves7984]

It'd be old news.

[soh.maryl]

Not sure, but perhaps eBay has not made an announcement because this is apparently an IRS change, not an eBay change.  

[fab_finds4u]

They did make it known. Even had a petition.

https://www.ebaymainstreet.com/issues/1099-k-federal-tax-reporting

[dryophelia]

The boards are full of questions from users who didn’t read the announcement  about any given eBay change or update. 

How often have you looked at eBay announcements page? (Asking no one in particular) 

[kensgiftshop]

@califdreamin2004 

Why, it's not Ebays job to keep sellers up to date on tax laws.

[stephenmorgan]

eBay recently sent out a solicitation for its customer's to contact their congressmen in the hopes of having it reversed.

Their solicitation would have had a much better chance of accomplishing something if they would of sent it out shortly before or after the new law was approved. 

There is a House Bill introduced to reverse the current law but with only six cosponsors since May, it is not likely to pass.

H.R.3425 — 117th Congress (2021-2022)

Introduced in House (05/20/2021)

Saving Gig Economy Taxpayers Act

[nobody*s_perfect]

There is no new sales threshold; there is a new threshold for when the payment processors have to send you a 1099-K.  At least 5 states already require payment processors to send a 1099-K for lower thresholds of $600-$1000.

[sextons-sweet-deals]

how true!

this was already in place early this year and then eBay tries to get us sellers involved as if they had no idea until now.

I see sellers dropping off and more garage sales & consignment stores next year. 

[katzrul15]

ETA:  This post is not directed to the OP or anyone in particular.  Just one poster's opinion - ymmv.

I "predict" that Q1, the boards will be saturated with these types of threads.

"why did no one tell me I was going to receive this 1099k?"

"I got this 1099k in the mail, what is this for?"

"I don't know why I got this in the mail - will I owe taxes?"

"did everyone get one of these in the mail?"

"e-Bay should have warned us about this"

"does this 1099k we got in the mail also go to the IRS?"

and the mac-daddy that will appear day after day after day:

"I'm OUTTA HERE. THIS IS CRAZY, INVASION OF MY PRIVACY, E-BAY is SO WRONG FOR SENDING MY INFO TO THE IRS".......

BUT - I could be wrong.    We could still be drowning in Seller School threads then too! 😎

[bearswatching]

IMO, your last sentence is a huge reason why EBay has been mostly quiet on this. Suddenly small sellers who had only done taxes on one easy peasy form would have to deal with Schedule C. That would be daunting to many. It’s not, really!

[musicforyoureyes]

The moral of the story for you as it was/is for me: thank goodness we found out in time!  The site, ecommercebytes and here on the boards is how I found out.  Paying taxes is fine of course, and expected in business, but for very small sellers it's going to be a real belly-flop.  And when anyone checks on it, the system says the same $20K and 200 sales, and will until Jan 1st.  I'm surprised nothing much said on the news, etc.  I guess we'll 'wait for it'... and yes, these boards are going to explode!!!  Take COVER!!!!! 😰😭😯

[7794heather]

I suppose if someone never reads the latest breaking news, never on social media and ONLY signs in to ebay and signs off wouldn't know. Just signing into Facebook daily I see numerous news outlets reporting on this. 

Did you know its also happening to Paypal, Venmo and other cash handling apps as well?

[nobody*s_perfect]

---

@katzrul15 wrote:

ETA:  This post is not directed to the OP or anyone in particular.  Just one poster's opinion - ymmv.

I "predict" that Q1, the boards will be saturated with these types of threads.

"why did no one tell me I was going to receive this 1099k?"...

---

That will happen in 2022, since the federal threshold for 2021 is still $20K.

[kensgiftshop]

---

@katzrul15 wrote:

BUT - I could be wrong.    We could still be drowning in Seller School threads then too! 😎

---

There's 21 million people there, so we'll probably be seeing those for awhile.