I opened an account years ago and don't remember if I ever entered my SSN. Doing business on Ebay now and not sure if the payments coming in through Paypal would be reported to the IRS.
2007-06-11 03:29:33 · 7 answers · asked by Cabletoys 1 in Business & Finance ➔ Taxes ➔ United States
The IRS has been after eBay for quite some time to hand over the sellers records because the IRS knows that a lot of sellers are making money from ebay but don't report the income to the IRS.
When that happens -- that's the time to be scared.
Here's some news report on this issue
Tax man eyes the eBay crowd http://money.cnn.com/2006/08/23/pf/taxes/online_taxes/index.htm
The IRS and eBay: Tax Season Is Here http://www.auctionbytes.com/cab/abu/y205/m04/abu0140/s02
2007-06-11 03:35:05 · answer #1 · answered by imisidro 7 · 1⤊ 0⤋
Paypal should not have your social security number.
That said, if the money coming to you is from self-employment, such as an ebay business, it is subject both to income tax and to self-employment tax. If you evade taxes, here are a number of ways you can get caught that don't involve Paypal reporting your income to the IRS - and penalties can be severe when you get caught. You are breaking the law by evading taxes.
2007-06-11 10:11:24 · answer #2 · answered by Judy 7 · 0⤊ 1⤋
http://paidpal.blogdrive.com/
Read and see if you'd want to continue using PayPal!
2007-06-13 20:00:04 · answer #3 · answered by Nagase 2 · 0⤊ 0⤋
Not asked for when applied for.
2007-06-11 03:33:02 · answer #4 · answered by wizjp 7 · 0⤊ 0⤋
No, they're not reported
2007-06-11 03:32:45 · answer #5 · answered by BIG 4 · 0⤊ 0⤋
scam
2016-05-17 08:01:24 · answer #6 · answered by ? 3 · 0⤊ 0⤋
NO
2007-06-11 03:31:54 · answer #7 · answered by Flat_out_Bob 7 · 1⤊ 0⤋