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 Friday, August 08, 2008
Uncle Sam coming after Paypal participants starting in 2011
Posted by Chris

uncle_sam_pointing_finger.jpgWe all knew it would happen eventually, and according to THIS ARTICLE on auctionbytes.com, the IRS requiring Paypal to report to the IRS the total payment volume received by PayPal customers in the U.S. who receive more than $20,000 in payment volume in a single year and receive more than 200 payments in a single year.

According to the story, this will go into effect starting in 2011, but it's now time for Paypal participants to start getting into the habit of properly reporting their taxes from online sales.

Maybe traditional garage sales are a better idea than eBay.




8/8/2008 9:50:32 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [3]
8/8/2008 6:37:40 PM (Eastern Daylight Time, UTC-04:00)
Chris be careful what you say they may start taxing you on garage sale items too. Have you guys come up with any lists of short prints for the new Allen & Ginter or the Goudeys? I know Joe used to do those updates but you seem to be the guy with all the info these days .Thanks,Brett
brett 75
8/11/2008 9:04:46 AM (Eastern Daylight Time, UTC-04:00)
Brett, Joe is still the baseball pricing guy. His email address is Joe.Clemens@fwpubs.com
8/11/2008 5:34:38 PM (Eastern Daylight Time, UTC-04:00)
Thanks Chris,Tom Bartsch hooked us all up on the Bustin Wax blog with the short prints for Allen & Ginter and said the Goudeys would be along shortly as info was avalible. You guys are doing great. Thanks again,Brett
brett 75
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