has anyone herd rumors about the irs charging back taxes on past or presest ebay sales or purchases? i had herd a rumor.
2007-10-21 08:30:33 · 3 answers · asked by the_law_man81 4 in Business & Finance ➔ Taxes ➔ United States
That's not what I heard.
2007-10-21 08:41:38 · answer #1 · answered by Otto 7 · 0⤊ 0⤋
There is no specific program to collect these taxes, however they are collecting the tax on these sales when they discover them. This is another example of folks that routinely fail to pay tax on income and at some point are shocked to discover that the earnings were taxable all along.
2007-10-21 16:30:29 · answer #2 · answered by ? 6 · 0⤊ 0⤋
If you've been making a profit selling on ebay and have not been paying income taxes on your profit, then you have been illegally evading paying - this is income and taxing it is not something new. Maybe they're starting to crack down on the tax evaders there - and yes, if you've been evading taxes, they can collect for former years. Like tax on any other income, if you don't report it and pay the tax when it's due, they can come after you for it.
2007-10-21 15:50:26 · answer #3 · answered by Judy 7 · 3⤊ 0⤋