PayPal names names as IRS chases tax evaders

Iria · Nov 6, 2005, 07:04 PM

PayPal, the internet money-transfer arm of eBay, is to disclose the identity of customers who use the service to evade paying US taxes.

The Internal Revenue Service (IRS) is demanding records of customers using Paypal through offshore accounts in all tax havens, including Jersey, Guernsey, Isle of Man, Gibraltar and other UK dependencies.

According to the IRS, PayPal's services have proved very attractive to tax evaders and the problem is growing. Customers can buy goods from eBay and many other shopping websites, pay for them from untaxed income held offshore and get the goods sent to their home address.

Tax authorities are also concerned that PayPal can be used to "launder" untaxed money between an individual's offshore and domestic accounts.
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Read More / Source: The Independent

The_Neon_Cowboy · Nov 6, 2005, 08:31 PM

Nice another reasion I shouldnt use thier service if they
going to be running everything threw the IRS wh recently
has gone crazy. getting people arested and put in jail over $1
and sued for like 10,000

hopefully it will be just be those area if they are just turning thier
files NO ONES going to like that

theres stuff i don't report becouse I shouldn't have to.
I'm not doing it as a bussiness nor am I makeing a profit
when I buy something and then sell it later for less...

Nov 6, 2005, 07:04 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	PayPal names names as IRS chases tax evaders PayPal, the internet money-transfer arm of eBay, is to disclose the identity of customers who use the service to evade paying US taxes. The Internal Revenue Service (IRS) is demanding records of customers using Paypal through offshore accounts in all tax havens, including Jersey, Guernsey, Isle of Man, Gibraltar and other UK dependencies. According to the IRS, PayPal's services have proved very attractive to tax evaders and the problem is growing. Customers can buy goods from eBay and many other shopping websites, pay for them from untaxed income held offshore and get the goods sent to their home address. Tax authorities are also concerned that PayPal can be used to "launder" untaxed money between an individual's offshore and domestic accounts. ____________ Read More / Source: The Independent

Nov 6, 2005, 08:31 PM	#2
The_Neon_Cowboy HardwareHeaven Extreme Member Join Date: Dec 2002 Location: U.S.A. Posts: 16,009 Rep Power: 92 System Specs	Nice another reasion I shouldnt use thier service if they going to be running everything threw the IRS wh recently has gone crazy. getting people arested and put in jail over $1 and sued for like 10,000 hopefully it will be just be those area if they are just turning thier files NO ONES going to like that theres stuff i don't report becouse I shouldn't have to. I'm not doing it as a bussiness nor am I makeing a profit when I buy something and then sell it later for less... __________________