Brush Up on Your Accounting

[Plantweed]

Senate Housing Bill Requires eBay, Amazon, Google, and All Credit Card Companies to Report Transactions to the Government

Senate Housing Bill Requires eBay, Amazon, Google, and All Credit Card Companies to Report Transactions to the Government -- FreedomWorks.org

[Barry Obama]

whats the big deal? I already report all my paypal transactions. both to the feds and state. not to do so is tax evasion.

[andydiesel]

whats the big deal? I already report all my paypal transactions. both to the feds and state. not to do so is tax evasion.

no kidding. all they are asking to do is for you to report sales income. no different than paying taxes every year.

[swampviking]

I am actually surprised it wasn't done sooner.

[andydiesel]

I am actually surprised it wasn't done sooner.

it was with paypal. i've been getting 1099's from them for two years now.

[philaarts.com]

i also report all income from paypal and ebay.. so yeah. was only a matter of time.

[philaarts.com]

it was with paypal. i've been getting 1099's from them for two years now.

thats just interest, not what you made.

[Mark McCormick]

definitely surprised they haven't done this already. it really isn't a big deal, and yeah, i already report all that crap, but i'm automatically opposed to the government obtaining info about my business from any source but me, unless i'm being audited, or investigated.

[andydiesel]

thats just interest, not what you made.

no shit? i thought they were reporting all people that did over $600 in transactions per year.

[philaarts.com]

maybe im wrong, but im pretty sure the 1099 is taxable income made in interest in your paypal acct.

like you could actually deposit 10k into your acct like anything and make interest. what now they will do is show inflow in transactions.. and alike outflows to payments for business will be shown.

but right now its taxable income from their moneymarket.