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PayPal will require SS# & report receipts to IRS

HarleyBob

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Hey, here's a novel idea; just pay your taxes like you should and then you don't have to worry about PayPal reporting your transactions or the IRS coming after you. Having worked for many years in the public accounting world, I have seen a lot of people try to avoid taxes and scam the system. It just isn't worth it. I pay a lot more in taxes than I would like, but when it comes right down to it, I get a lot of benefits. It irks me when people don't pay their rightfully owed taxes.
 

rebel222

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Originally Posted by aj_del
BTW, are some of you guys who receive PP from around the world worried about inquiries regarding where you are getting the money from and for what purpose.
It actually did cause me a slight problem when purchasing a home. Apparently, people launder money through mortgages and real estate. I had to account for any transaction over $300 (IIRC) that was not normal payroll type stuff, i.e. provide a printout of the SF sale or eBay auction. Dozens of my paypal transactions over the prior 3 months were over the limit. After realizing the troubles this would have caused and somewhat believing my story, my banker pretended that I didn't tell him about my paypal account. I couldn't count it as income, but it wasn't necessary. EDIT: On a side note, I paid taxes on my eBay stuff. I just don't like this information being sent to the IRS. I always get worried that my numbers will be slightly different than theirs, triggering an audit.
 

aj_del

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Originally Posted by SpooPoker
Paypal does not care where it comes from as long as they get their cut.

I was talking about homeland security, IRS, FBI and other government agencies, rather than PP
 

SpooPoker

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laugh.gif
pshaw, them? Son, whats this $500 from Dubai? Payment for a pair of Gazianos, sir. Who are they, some criminal syndicate? You in the mafia, boy? No, no - they are shoes! For $500, son? Come on now. What were you smuggling in the soles? They were channeled! With a beveled waist! Where were the drugs - in the waistband? faceplam
laugh.gif
 

niidawg3

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Originally Posted by HarleyBob
Hey, here's a novel idea; just pay your taxes like you should and then you don't have to worry about PayPal reporting your transactions or the IRS coming after you. Having worked for many years in the public accounting world, I have seen a lot of people try to avoid taxes and scam the system. It just isn't worth it. I pay a lot more in taxes than I would like, but when it comes right down to it, I get a lot of benefits. It irks me when people don't pay their rightfully owed taxes.

hop off your high horse bra!
 

RangerP

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Originally Posted by SpooPoker
laugh.gif
pshaw, them?

Son, whats this $500 from Dubai?
Payment for a pair of Gazianos, sir.
Who are they, some criminal syndicate? You in the mafia, boy?
No, no - they are shoes!
For $500, son? Come on now. What were you smuggling in the soles?
They were channeled! With a beveled waist!
Where were the drugs - in the waistband?
faceplam
laugh.gif


Hahaha

That is probably how it would go down...
 

k4lnamja

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Originally Posted by FStyles
****.

Nice avatar.

Humm Babbby!

Go Giants!
 

chenzhongbi

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Originally Posted by SpooPoker
laugh.gif
pshaw, them?

Son, whats this $500 from Dubai?
Payment for a pair of Gazianos, sir.
Who are they, some criminal syndicate? You in the mafia, boy?
No, no - they are shoes!
For $500, son? Come on now. What were you smuggling in the soles?
They were channeled! With a beveled waist!
Where were the drugs - in the waistband?
faceplam
laugh.gif

laugh.gif

Good one.
 

chasingred

Distinguished Member
Joined
Apr 4, 2009
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Originally Posted by SpooPoker
laugh.gif
pshaw, them?

Son, whats this $500 from Dubai?
Payment for a pair of Gazianos, sir.
Who are they, some criminal syndicate? You in the mafia, boy?
No, no - they are shoes!
For $500, son? Come on now. What were you smuggling in the soles?
They were channeled! With a beveled waist!
Where were the drugs - in the waistband?
faceplam
laugh.gif


Gazianos with channeled stitching and beveled waists are only $500?
wow.gif
 

Xiaogou

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Originally Posted by chasingred
Gazianos with channeled stitching and beveled waists are only $500?
wow.gif


That's just the deposit
 

M. Charles

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I am glad that there is at least one transaction -- the exchange of cash on the street -- where this f*ing government (at least at the moment) can't stick its nose. Billions of taxes are lost every year because large corporations hire fancy lawyers to exploit loopholes for them, among other tricks, and the IRS focuses its time on the small potatoes that is the private individual hawking secondhand items with paypal? Unlike the poster above, I would be *delighted* if human ingenuity is exercised to find a way around this, not because it would make any difference for me, but because it really pisses me off in principle. Correct me if I"m wrong, but the government doesn't tax the 20K one could make simply by opening one's garage door and having a tag sale.
 

johnny_flapjack

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Originally Posted by FStyles
****.


1) Go to NMLC, buy 4 things for $200 total
2) Sell three for $70 each, keep 4th item
3) $210 - pp fees - shipping = I lost money and I am a bad businessman.
4) IRS will not audit your closet
 

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