- Nov 10, 2006
- Reaction score
Just saw this pop up on my Paypal account today. I know it was only a matter of time until the government tried to get their hands in the pot. With the over $20,000 gross sales thing, it won't affect the small/middle time sellers, but I know there are some big-time sellers on here who make that much who will be affected. https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W " Starting in 2011, all U.S. payment providers including PayPal will be required by the IRS to report sales information about certain merchants to the IRS. We want to help you understand these changes. * Applies to merchants receiving over $20,000 in gross sales volume AND 200 payments or more * Applies only for sales beginning on January 1, 2011"