Selling stuff online? Here comes the IRS

Iria · Apr 14, 2007, 12:21 AM

Source: ZDNet
_________
Americans who sell items through Internet auction sites could be in for an unpleasant surprise at tax time next year, thanks to an IRS proposal designed to identify taxpayers who don't report income from those sales.

The U.S. Treasury Department wants Congress to force auction sites like eBay, Amazon.com and uBid.com to turn over the identities and Social Security numbers of a large portion of their users to the IRS--so tax collectors know how much each person made through online selling.

GutterPunk · Apr 14, 2007, 01:21 AM

Are they going to record garage sales too? I agree they need to hit up the people that make at least 50% of their earnings etc.

**dj_stick** · Apr 14, 2007, 01:22 AM

there should be no tax on second hand goods - the tax has already been paid in the original purchase price

Dark Lord · Apr 14, 2007, 02:50 AM

bite me tax man

Mazuko · Apr 14, 2007, 03:16 AM

People that run stores via e-bay should pay tax on their sales simply because of the sheer volume of product they sell (for these instances I am referring to wholesalers who sell on ebay or people that have purchased mass quantities of a product or even in some cases where stores such as PC and comic book/card stores sell product on ebay as well).

Day to day users such as a majority of ebay users that occasionally sell goods on e-bay should not have to pay tax on the item(s) sold.

OmegaRED · Apr 14, 2007, 03:35 AM

Quote:

Originally Posted by dj_stick

there should be no tax on second hand goods - the tax has already been paid in the original purchase price

I agree it makes no sense to tax stuff you're selling when you had to pay for it in the first place.

Arklon · Apr 14, 2007, 02:45 PM

I'd like the government to spend the money it already has better before they take more of it from us. No appropriating it to shrimp aquaculture in Arizona or the Underground Railroad a century and a half after the end of the Civil War.

Mazuko · Apr 14, 2007, 08:56 PM

Hey now preserving our historical heritage should be paramount in our nation, especially since our cultural background is constantly changing.

Zeph · Apr 14, 2007, 09:47 PM

That's something I dont really understand. First off, my paychecks get taxed. Then all the money I spend afterwards gets taxed. They're wanting to tax it again? I'm surprised there hasn't been an overthrow or revolution on taxes.

BlueMak · Apr 15, 2007, 12:14 AM

People are too comfortable to revolt.

Apr 14, 2007, 12:21 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Selling stuff online? Here comes the IRS Source: ZDNet _________ Americans who sell items through Internet auction sites could be in for an unpleasant surprise at tax time next year, thanks to an IRS proposal designed to identify taxpayers who don't report income from those sales. The U.S. Treasury Department wants Congress to force auction sites like eBay, Amazon.com and uBid.com to turn over the identities and Social Security numbers of a large portion of their users to the IRS--so tax collectors know how much each person made through online selling.

Apr 14, 2007, 01:21 AM	#2
GutterPunk I = Greatest Dood Join Date: Nov 2003 Location: Nebraska Posts: 5,949 Rep Power: 71	Are they going to record garage sales too? I agree they need to hit up the people that make at least 50% of their earnings etc. __________________ Rock On \m/ Thank you Mousey for the Sig! --------------- Intel Core2Duo E6660 (3.4GHZ) ~ Tuniq Tower 120 ~ Enermax Galaxy 1000W ~ Corsair Dominator @ 1090MHZ 5-5-5-15 (OCZ XTC Modded Cooler)~ EVGA 8800GTX W/ HR-03 Plus 120MM ~ Asus DVD-RW LiteScribe ~ LG DVD-RW ~ Corsair Voyager 2GB ReadyBoost Drive ~ Vantec Nexus Fan Controller ~ ThermalTake Armor 25CM fan ~ Personal Finance Blog: Dent Your Debt

Apr 14, 2007, 02:50 AM	#4
Dark Lord HardwareHeaven Extreme Member Join Date: Jul 2004 Location: Grand Rapids, MI Posts: 5,945 Rep Power: 125 System Specs	bite me tax man __________________

Apr 14, 2007, 03:16 AM	#5
Mazuko DriverHeaven Senior Member Join Date: Aug 2003 Location: Fredericksburg, VA Posts: 1,008 Rep Power: 0 System Specs	People that run stores via e-bay should pay tax on their sales simply because of the sheer volume of product they sell (for these instances I am referring to wholesalers who sell on ebay or people that have purchased mass quantities of a product or even in some cases where stores such as PC and comic book/card stores sell product on ebay as well). Day to day users such as a majority of ebay users that occasionally sell goods on e-bay should not have to pay tax on the item(s) sold. __________________ E-bay feedback: http://feedback.ebay.com/ws/eBayISAP...me=STRK:ME:UFS

Apr 14, 2007, 08:56 PM	#8
Mazuko DriverHeaven Senior Member Join Date: Aug 2003 Location: Fredericksburg, VA Posts: 1,008 Rep Power: 0 System Specs	Hey now preserving our historical heritage should be paramount in our nation, especially since our cultural background is constantly changing. __________________ E-bay feedback: http://feedback.ebay.com/ws/eBayISAP...me=STRK:ME:UFS

Apr 14, 2007, 02:45 PM	#7
Arklon HardwareHeaven Lover Join Date: Mar 2006 Posts: 163 Rep Power: 0	I'd like the government to spend the money it already has better before they take more of it from us. No appropriating it to shrimp aquaculture in Arizona or the Underground Railroad a century and a half after the end of the Civil War.

Apr 14, 2007, 09:47 PM	#9
Zeph DriverHeaven Lover Join Date: Jun 2006 Posts: 190 Rep Power: 0	That's something I dont really understand. First off, my paychecks get taxed. Then all the money I spend afterwards gets taxed. They're wanting to tax it again? I'm surprised there hasn't been an overthrow or revolution on taxes. __________________

Apr 15, 2007, 12:14 AM	#10
BlueMak HH's Asteroids' Dominator Join Date: Nov 2004 Location: Hellas->Macedonia->Thessaloniki Posts: 13,475 Rep Power: 349 System Specs	People are too comfortable to revolt. __________________ The people who are regarded as moral luminaries are those who forego ordinary pleasures themselves and find compensation in interfering with the pleasures of others(Bertrand Russell)"You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil,You know, guys like that ain't got no manhood left anyway. So it's a hell of a lot of fun to shoot them." - Lt. Gen. James N. Mattis This is slavery, not to speak one's thought. [Euripides-The Phoenician Women (c.411-409 B.C.)] http://www.macedonia.info/FALLACIESANDFACTS.htm *Sic semper tyrannis.*