Looks like the IRS are having second thoughts on the PayPal issue

It isn't a PayPal issue, it is any electronic payment. Someone selling a pool cue for $875 on Ebay (or a forum) a few times a year is not the big fish they are going after. And anyone who actually sells on Ebay knows they haven't used PayPal as the way you receive funds for several years. You can still use it to pay but that's true for most online vendors...but Ebay has taken over processing and transferring funds to the seller's account.

It really shouldn't surprise anyone this is coming. The way people work, buy, sell and spend is changing and there are people out there taking advantage of the IRS being behind the times.

Should a car detailer who is working at a car dealership and being paid by the hour pay income tax, SS tax, etc. while a guy taking cash from individuals doing the same work out of his house pay zero? Won't that eventually drive the few who are still paying to pay even higher rates?

Again, if you think this is all about Ebay and PayPal and selling grandma's silverware you are missing the big picture and may find yourself on the wrong side of the debate.
 
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much of the problem stems from our country and economy has grown so large and complicated that its too hard to follow the money.
so we need to regress and lean more toward the old flat tax and good and services tax.
which of course punishes and rewards different classes of people over time.
 
Floyd_M said:
1 year delay on implementation huh.
Gives us time to work on Loop-Holes. If not, I see some just UP & QUIT SELLING.
Gov keeps dreaming up all these new taxes yet
NO ONE barks back to start charging Politician's multiple
taxes. I have a rather long list of taxes that can be implemented.

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You got it, no more selling. These aholes just have a huge appetite for stealing our money
 
middleofnowhere said:
www.foxbusiness.com

IRS delays new tax-reporting rule on Venmo, PayPal payments over $600

A controversial new tax-reporting policy involving payments over $600 on e-commerce platforms like eBay and Etsy will be delayed by one year, the IRS said.
www.foxbusiness.com www.foxbusiness.com
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Well keep records on cost of good, price sold for, profits, loses, expenses like postage, packing products, and mileage to and from shipping agent. Of you own money pay you taxes, if you loose money take loss on your tax form.

The IRS is easy to deal with if you keep good record, and receipts to back up records. If you fly fast n loose, and the IRS catches you, it can be ugly.

Al Capone killed people, ran whore houses, bootlegged, but went to Prision for not paying taxes.
 
maha said:
much of the problem stems from our country and economy has grown so large and complicated that its too hard to follow the money.
so we need to regress and lean more toward the old flat tax and good and services tax.
which of course punishes and rewards different classes of people over time.
Click to expand...
Even a flat tax means nothing to people who don't report income.
 
Corporations are considered people. That's why they can buy the government. I'm a people. Why am I taxed on my income but corporations are not taxed on their income?
 
they are, in fact they are taxed twice on it. once when they earn it and then the owners are taxed when that same income is given out in a dividend.
 
Is there a point of unpopularity that will see government dissolved and dismantled? Couldn't happen to a more deserving bunch, in my opinion.
 
Taxes and Fees are way out of hand. I travel for work often and when I see the hotel price break down, there are 3-4 taxes added on to the room. State tax, City tax, County Tax, Room Tax, Tax Tax, Coffee Tax, Air Tax..... You can't even do anything without looking at the extra Fees. College tuition - 10,000, student fees, sports fee, document fee - 15,000. My bank account does not care a tiny turd bit about what the reasoning for the money that is taken out is, just have a single final damn cost already!

If you buy and sell something a few times, the taxes will end up costing as much as the original purchase costs. I still don't get inheritance or gift tax legality. When the money is earned taxes were taken out of that income, how is it legal to tax it again as income when it's moved to another person? 50,000 earned, 20,000 taken out as taxes, 30,000 left. 30,000 passed on, 10,000 taken out as taxes, ends up from that original 50,000 a human citizen gets 20,000 at the end. And if you use that 20,000 to buy anything, you get more chunks taken off, so the final purchase power of $50,000 drops to $15,000.
 
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King T said:
Taxation without Representation is a form of..., do you know where all the Money goes???
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To poor southern republican controlled states........
from the rich democratically controlled north eastern and southwestern states......

If you get to vote you are being represented EVEN if during your entire lifetime no politician every espoused your point of view on anything.
 
hang-the-9 said:
I still don't get inheritance or gift tax legality. When the money is earned taxes were taken out of that income, how is it legal to tax it again as income when it's moved to another person?
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Consider someone who owns $100B:: should his/her children (and their children and their children) live tax free unproductive lives just milking Dads original endowment at passbook interest rates ??

The reason it is taxed again is that a different person now owns that money ! The new person now owning the ability to use the money any what he/she pleases pays the tax. The inheritance tax is not a tax on Conrad Hilton it is a tax on Paris Hilton.

Taxes are a way to entice people to do things with their wealth that are productive to society en-the-large rather than hoarding it all for themselves.
 
Bunch of SH*T
I had like a $80 transaction but they would not release the payment until I gave then some more info on me.
I was about to go over the $600 limit GFY (Good for You)
Big Brother will Never stop watching
 
dendweller said:
I'm not sure that those laws are targeted at the hiltons. It applies to some construction worker who managed to put away 70 thousand who dies and hoped his kids would get it too.
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The estate tax limit is 12.9 million dollars. Anything under that is tax free.

The vast majority of Americans never earn 12.9 million dollars in their entire lifetimes, let alone accumulate that much to hand it down to their heirs.
 
MitchAlsup said:
To poor southern republican controlled states........
from the rich democratically controlled north eastern and southwestern states......

If you get to vote you are being represented EVEN if during your entire lifetime no politician every espoused your point of view on anything.
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Theft is theft. Like the entire country subsidizing Kalifornia residents' insane state income taxes.
Taxing the wages of the individual was not the original intent but here we are.

Anyone who still uses PP after the sh!t they considered doing to their customers regarding DE! deserve what they get -or get stolen.
 
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