Paypal/Proposed IRS Reporting Requirements Become Law - Page 2

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Author	Replies: 17 / Views: 7,834	Page: of 2

fmtaxguy Valued Member United States 257 Posts	Posted 05/19/2010 01:52 am For those who are not currently affected by this new reporting law, just wait. Anything the the government introduces grows evermore far-reaching and remains permanent. This is true with the income tax itself as well as social security. No one was harshly affected, which allowed initial passage. It's just like the old Arabic saying: Never let the camels nose under the tent; if you do the whole camel will be in the tent. The camel's nose has found a new tent. FYI I am a former Federal IRS Agent (now working for the good guys.) Report this Post to the Staff
Jim1953 Pillar of the Community United States 2600 Posts	Posted 05/19/2010 10:11 am Give me a break. The IRS is getting involved because of the number of internet business that are functioning thru ebay, PayPal and the like that are not reporting earnings. If you are cleaning out the attic, that is one thing and exempted from the process. If you are a for profit business, buying goods at yard sales, auctions and flea markets with the intent to sell on the net "FOR PROFIT" there are tax obligations. I own two businesses and pay a mountain of related taxes, my obligation. Step up and accept the responsibility. Jim (a VERY conservative capitalist) Report this Post to the Staff
	Replies: 17 / Views: 7,834	Page: of 2

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