IRS Hunting People Who Sell Anything on EBay

[DeepseekerADS]

» IRS Hunting People Who Sell Anything on EBay Alex Jones' Infowars: There's a war on for your mind!

by Martin Armstrong | November 28, 2014

The following notice was sent out by EBay warning people that the IRS is matching records now between internet companies to make sure you pay taxes on selling any old stuff. EBay wrote:

We are writing today with an urgent message in regards to PayPal account(s) associated with your eBay account.

The IRS recently notified PayPal that the legal business name and/or Taxpayer Identification Number (also known as a TIN) on one or more PayPal account(s) associated with your eBay account does not match what the IRS has on record. If this discrepancy is not corrected, in order to comply with applicable regulations, PayPal will limit the affected PayPal account(s). If these PayPal account(s) are limited, you will not be able to receive payments to these PayPal account(s).

 

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[pkb]

I call BS on this. IRS doesn't have enough people as it is, much less to go after small fry people. JMHO

 

[DeepseekerADS]

I call BS on this. IRS doesn't have enough people as it is, much less to go after small fry people. JMHO

Maybe so.... They have focused almost exclusively on other groups of people.

 

[Nitric]

I call BS on this. IRS doesn't have enough people as it is, much less to go after small fry people. JMHO

Lol, it doesn't take people! It's already in a computer program.

 

[DeepseekerADS]

eBay has become a very big business with many involved. The bureaucracy needs fuel to survive, so I'd say they'll leave no stone unturned. If I sold on eBay, I'd certainly keep detailed records of all transactions.

 

[Nitric]

eBay has become a very big business with many involved. The bureaucracy needs fuel to survive, so I'd say they'll leave no stone unturned. If I sold on eBay, I'd certainly keep detailed records of all transactions.

Here's another problem I have with some of this. Say you collected things most of your life. Now, you throw it all on Ebay. How do I prove what I paid for something 20 years ago? I'm going to take an overall loss maybe? There is no way of knowing. It should not be considered income!

 

[DeepseekerADS]

Here's another problem I have with some of this. Say you collected thing most of your life. Now, you throw it all on Ebay. How do I prove what I paid for something 20 years ago? I'm going to take an overall loss maybe? There is no way of knowing. It should not be considered income!

Yep, you have an excellent point my friend.....

 

[DirtyHowi]

umm yea, its on info wars...not exactly the best place to get your news.

not that there is not a modicom of truth to it, but i'm sure its not the small fry suffering its the guys with collectible cars that sell in the tens of thousands that they would be going after.

besides a good accountant can take 100k in profits and turn it into a loss from the IRS view point. just gotta find a good accountant.

 

[gollum]

My best guess is that they are going after people with Ebay Stores. If you are a collector just selling off a lifetime collection, you are not likely to set up a store on Ebay. Someone with a storefront is using Ebay for a business. If that business is not set up with the Feds or the State, then they may single you out.

Mike

 

[deserdog]

The IRS is going to have their hands full. Starting in Jan. They are the ones who have to make sure people are getting health insurance!!!

 

[DeepseekerADS]

The following notice was sent out by EBay warning people that the IRS is matching records now between internet companies to make sure you pay taxes on selling any old stuff.

The question I wonder about = has anyone received this kind of message from eBay? My brother has a store there, and I'll ask him - if I remember to!!!

 

[57chevy]

The PTB are trying their best to lock down control on everyone and everything. And they need money. As for paypal, they were never a good choice. They have stolen thousands from some people. PayPal Problems & PayPal Answers!

Here is the part that gives you alternatives. PayPal Alternatives

 

[Paleo_joe]

There are thousands of businesses on ebay paying taxes. Like me. If the details behind the ebay accounts and the paypal accounts don't match up, then they are right to send an alert message. This has nothing to do with the IRS doing anything to target people that I can see.

 

[dumpsterdiver]

I actually think it would be very easy to crack the $20K in one year selling a personal collection through an eBay store. This varies widely of course on what you collect.

 

[NJcigarman]

I just went over 20,000 but with a 1000 sales.

 

[dumpsterdiver]

In the past I knew a guy that did $18k in one month. I don't remember details, it was some years back. I believe they made him open an ebay store. It was a personal collection that he was selling off. Certain things can add up fast! You shouldn't have to get an accountant to sell the crap you saved out of your house!

That is impressive

 

[deserdog]

And that 20K threshold is total payments paypal, which includes shipping!

 

[NJcigarman]

That is impressive

Off My Dashboard.


1,000transactions with total sales of $20,146.15
Total transactions:
1,000
(Top Rated Sellers must have at least 100 transactions in 12 months)

Sales amount:
$20,146.15dsr green checkmark
(Top Rated Sellers must have at least $1,000.00 in sales the past 12 months)

 

[Fushek]

Soooo ... my question is ...

How do you prove to the IRS what you paid for something at a yard sale? At a rummage sale? There's no receipt!

 

[Koffee]

Soooo ... my question is ...

How do you prove to the IRS what you paid for something at a yard sale? At a rummage sale? There's no receipt!

I keep a log of Cost, address and date of items I purchased. I get audited about every 3 1/2 years and no one has ever looked at that twice.

Cheers - Koffee