Ebay fights plan to shop users to IRS

[stefan]

Ebay fights plan to shop users to IRS

By Eoin Callan in Washington

Ebay is fiercely resisting a Bush administration plan it says will force it to snitch on customers who are not paying tax on billions earned on the popular online auction site.

The Treasury estimates it could collect $2bn in unpaid tax if companies such as eBay reported American users who carry out more than 100 transactions worth at least $5,000 a year to the Internal Revenue Service.

But an eBay spokesperson said:

[JP]

Income earned is taxable, just like the stock market :nod:

[DiscGo]

I think that if you make under $1000 dollars a year on eBay, you should not have to pay taxes on it. But those who make an income off of eBay should have to pay taxes like everyone else.

[chickenlicken]

I sell many items on ebay, I make enough to cover gas money and enough to take my wife out as well. I report my income on my income taxes and pay my fair share. I'm sure there are many who don't. I just don't like the idea of "Big Brother" looking over my shoulder for everything I do.
Ebay is like a big garage sale for some people. Is government going to start taxing neighborhood yard sales too? :twisted:

[DiscGo]

Honestly I really don't like how much people are taxed. We are taxes on what we earn, and then on how we spend it. That is double dipping. But I think that people who sell an item every once in a while as garage sale people but people who do it for a living that is like a swap meet. Professionals should pay taxes.

[rockgremlin]

Is government going to start taxing neighborhood yard sales too? :twisted:

Good point.

[Iceaxe]

Is government going to start taxing neighborhood yard sales too? :twisted:

If they can figure out a way to do it they will..... the only reason they are not taxed now is it's impossable for the IRS to enforce.

Forcing eBay to do the accounting on the taxes is easy for the feds...so it's a done deal....

:cool2:

[Jaxx]

Is government going to start taxing neighborhood yard sales too? :twisted:

If they can figure out a way to do it they will..... the only reason they are not taxed now is it's impossable for the IRS to enforce.

Forcing eBay to do the accounting on the taxes is easy for the feds...so it's a done deal....

:cool2:

We are going to see IRS vans patroling the neighborhoods on saturday mornings and monitering the revenue of yard sales :roflol:

[chickenlicken]

We just may start seeing underground garage and yard sales. :lol8:

Double taxation at its finest...pay taxes when you buy it, pay taxes when you sell it.

Does the DI charge sales tax?

[DiscGo]

Does the DI charge sales tax?

No because they are tax exempt.

[JP]

Is government going to start taxing neighborhood yard sales too? :twisted:
LOL, no...People don't make livings off of a yard sale :haha: But, there are some people that basically live off of eBay sales and they do not pay taxes on it. :nono: :haha: