Ebay vs. IRS

[COPO CARTEL]

Coming into work today I heard this on the radio. The IRS wants records from Ebay showing individuals with 100 or more selling transactions or an amount over $ 5000.00 per year, and Ebay is disputing this and does NOT want to give up the information. enjoy guys. Doug

[prototype]

Death and taxes.

The only certainties in the world.

[ANDY M]

Check this out:
http://www.wired.com/news/business/0,67035-0.html

[mmcporter]

bad link

[ANDY M]

If you cut and paste the whole line into your address box, it will come up. Old article from '05.
Try this link for more up to date info:
http://www.auctionbytes.com/cab/abu/...04/abu0140/s02
Or, if you're really bored, type "irs"_"ebay" into google.
You could spend all day trying to get a straight answer.
Bottom line, your dice to roll with the IRS. Remember, they can even tax you for illict income if they find out about it. Just ask Al Capone.

[Canuck]

Its not just the IRS.
About five years ago having attended a swap meet near Seattle I was crossing the border to return home and when asked the value of my purchases and I declared the approximate amount. I had to pay some taxes on the amount as it was above my exemption limit for 48 hours. The customs officer asked if I had receipts and I had none explaining it was all purchased at a swap meet and receipts generally are not given. He told me in no uncertain terms that in the future all items purchased at a swap meet must have a receipt or the goods would be confiscated. I was declaring their proper value.

Fast forward to spring 2006 I was returning over the border from picking up about 6 items purchased on ebay. I generally print off my ebay transactions. One item had shipped sooner than expected and I did not have the receipt however I declared at at $100 as I had paid $88.00 plus shipping. The customs office asked for my ebay handle so he could look the invoice. I provided the handle and when I offered the password he said he did not need it as customs had a "law enforcement password to access all accounts". This blew me away. He used his password but could not find the item and he refused to use my password. They again threathened to confiscate the item. I then kooked up the item on my blackberry and showed him the amount I had paid. When I suggested their password did nor provide the right access another Customs office got pissed and said to me "are you suggesting that officer does not know how to use a computer?". It was a loose loose situation. Be honest and declare and they want to make a criminal out of you any way. There are some days when these guys just want to be pricks.

I have my items shipped to a US address as UPS and Fedex do a major rape job on small packages when shipping over the border.

Paul

[Donutblue]

Remember State Taxiation as well. Years ago the State Tax guys from NY went to a New Jersey Mall during the holiday season. Wrote down the license plate number to all the NY cars they saw and followed up with a letter to the registered owner of the car reminding them that they had to pay NY sales tax on any items that they purchased out of state and brought back into NY. --- They left it to the integrity of the registered owner to follow up.

[elcamino72]

It's just getting worse guys ... Uncle Sam wants his share and eventually he'll get it, one way or another.

With eBay getting so large and the amount of money being exhanged and made as a result it's only a matter of time before they figure out a sure fire way to stick it to us.

Same goes with the sale of our beloved muscle cars ... the IRS is watching the classic car sales and auctions with a very close eye. If you are looking to sell a car and are looking to make a major profit on the sale, contact me there are ways that you can legally get around paying the capital gains tax by taking advantage of the IRS 1031 like-kind exchange law.

[VintageMusclecar]

[ QUOTE ]
...The customs office asked for my ebay handle so he could look the invoice. I provided the handle and when I offered the password he said he did not need it as customs had a "law enforcement password to access all accounts". This blew me away....

[/ QUOTE ]





That is scary as h*ll.

[427king]

Im not surprised since it seems that half of nigeria can get your ebay password when they want it also. Its actually simple though, pay taxes on your profits and have no worries. Being a vendor this is actually a good thing because for years weve had to try and compete with people that run businesses and call it a hobby. its hard to compete with sellers that dont pay taxes when most legit businesses are hit around 43%... I dont think a guy with 8500 feedbacks on ebay can call himself a hobbyist.