Announcement

Collapse
No announcement yet.

OT Heads up to merchants

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • OT Heads up to merchants

    If you sell online or off and use Paypal,card services or e-payments,you have another form to file with the IRS.

    http://www.taxgirl.com/online-mercha...-requirements/
    I just need one more tool,just one!

  • #2
    Any products mentioned in my posts have been endorsed by their manufacturer.

    Comment


    • #3
      New form or not, you'd be a fool not to report income from credit cards, paypal, etc., since there are records for those things, and you'd be a fool to assume that big brother doesn't already have access to those records. The form merely makes it official.

      Comment


      • #4
        Winchman,

        Keep your damn politics off this forum.

        Comment


        • #5
          Whats next, charge tax on emails?
          Andy

          Comment


          • #6
            This is not new but it is a disgusting reminder that while the govt wants to track every last penny of yours, they pi$$ away our tax dollars and our children's children's income to what is now hundreds of Billion$ at a time instead of Million$.

            Disgusting but change is in the air. The weather usually changes in the fall but this fall will be dramatic

            Comment


            • #7
              Your exempt for under 20k so I doubt most of us will have to worry about it.

              Comment


              • #8
                Originally posted by macona
                Your exempt for under 20k so I doubt most of us will have to worry about it.
                Wait,not that easy,the term "may" is in there-

                "Exemptions may apply in certain circumstances, such as if the total payments settled for the year are less than $20,000."

                Then there is this jewel-

                "The form 1099-K will report the gross amount paid out to the taxpayer with no adjustments for fees or chargebacks (an issue that is, admittedly problematic)."

                In typical fashion they have crafted tax law that is nebulous at the least and clear as mud in the worst.Also in typical fashion they stuffed it into two completely un-related bills both of which are chaulk full of legalese.

                The term "sausage making" was brought up during the debate.I can't wait to see what else they stuffed in
                I just need one more tool,just one!

                Comment

                Working...
                X