posted on March 24, 2001 09:11:00 AM new
Recently I received a heads-up from a buyer of mine saying she had 'heard' that all the sellers of my particular items were being reported to the IRS for taxes. She has been a regular buyer of mine but I checked to see what else she had bid on and sure enough she has been high bidder on 1 item from each of about 14 sellers. I wonder if she herself is harvesting names and addresses to try and get the tattlers reward money from the IRS. (Just my suspicious mind working overtime.)
posted on March 24, 2001 09:19:16 AM new
You can get up to 10% of the amount collected if they find you have submitted information that results in a collection. That is they MAY do that. You better have some solid reasons for reporting people or their patience will run thin if you expect them to run on fishing expeditions for you. I would negotiate a promise in writing first and not trust to their sense of fair play
posted on March 24, 2001 09:26:09 AM new
I'm sorry - but any serious Ebayer who is NOT reporting their income tax to Uncle Sam deserves to be caught... I'm not talking about the yard-type sales who are selling at losses, because they don't have a tax issue... but if any of the business type sellers AREN'T paying their fair share - I hope the IRS does get them... Flame me if you have too...
THis is a pet peeve of mine - I don't like "cheaters"...
I wouldn't go hunting for sellers to report though - I mean, how on EARTH would they know if you reported properly or not?
posted on March 24, 2001 09:35:55 AM new
I would think the IRS would have a very easy time accessing ebays data base to find out individuals revenue from auction sales.
I have already filed and included all my ebay income on my taxes.
(And to bunnicula I am just selling canine antique and collectible items and computers and video gaming equipment and software, nothing more exciting than that.)
