SuperTaz Posted February 27, 2012 Share Posted February 27, 2012 http://finance.yahoo.com/news/tax-changes-to-watch-for.html The 1099-Ks are one of many new forms aimed at helping the IRS collect more money without raising taxes. This form is issued to eBay sellers and folks who sell things and get paid by PayPal, Visa, MasterCard, American Express, Discover, etc. To get caught by this form, you must have had over $20,000 in sales or over 200 transactions. The casual eBay garage-sale-type seller wouldn’t get one of these 1099-Ks. Here is the pdf of the 1099-K: http://www.irs.gov/pub/irs-pdf/f1099k.pdf Quote Link to comment Share on other sites More sharing options...
HSMagnet Posted February 27, 2012 Share Posted February 27, 2012 To get caught by this form, you must have had over $20,000 in sales or over 200 transactions large gap in those numbers if you are selling $5.00 a pop, 200 transactions would only be 1/20th the dollar threshold Quote Link to comment Share on other sites More sharing options...
fozzer Posted February 28, 2012 Share Posted February 28, 2012 One wonders if the pay for cheats scene has filled out their paperwork :P It's not the first time the tax angle has been broached as a way of clamping down on such sites, but this is the first time any proactive action has been forthcoming. Quote Link to comment Share on other sites More sharing options...
HSMagnet Posted February 28, 2012 Share Posted February 28, 2012 ever since al capone, taxes have brought down some biggies! Quote Link to comment Share on other sites More sharing options...
SuperTaz Posted February 28, 2012 Author Share Posted February 28, 2012 ever since al capone, taxes have brought down some biggies! Including the current U.S. Secretary of the Treasury. :P Quote Link to comment Share on other sites More sharing options...
HSMagnet Posted February 28, 2012 Share Posted February 28, 2012 the AIG whore? Quote Link to comment Share on other sites More sharing options...
GOS_LEgiONary Posted February 28, 2012 Share Posted February 28, 2012 It sounds this could cause some well deserved extra head ache to some people that worked hard to achive it. On the negative side, will it cause PBBans staff extra administrative work? Quote Link to comment Share on other sites More sharing options...
HSMagnet Posted February 28, 2012 Share Posted February 28, 2012 It sounds this could cause some well deserved extra head ache to some people that worked hard to achive it. will also be a headache to those that have done nothing wrong. my penny blossoms with blue tooth business for example Quote Link to comment Share on other sites More sharing options...
GOS_LEgiONary Posted February 28, 2012 Share Posted February 28, 2012 (edited) http://indienomics.wordpress.com/2009/06/16/penny-blossoms/ Penny blossoms? are you refering to Penny, Penny, Penny? Sheldon: If you took advantage of modern marketing techniques and optimized your manufacturing process, you might be able to make this a viable business. To bad if it will punnish innocent people - Good luck with your business! :fryingpan: Edited February 28, 2012 by GOS_LEgiONary Quote Link to comment Share on other sites More sharing options...
HSMagnet Posted February 29, 2012 Share Posted February 29, 2012 http://indienomics.wordpress.com/2009/06/16/penny-blossoms/ Sheldon: If you took advantage of modern marketing techniques and optimized your manufacturing process, you might be able to make this a viable business. EggZachary Quote Link to comment Share on other sites More sharing options...
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