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goWholesale Forums » Wholesale Buyers » General Chat

Does the IRS care about BIG sellers on eBay?

5 posts

  1. neutrade

    Joined: November 2003
    Posts: 27

    Hi,

    I am just wondering if the IRS ever go after all those people on eBay that sell, and make, a lot!!!

    For example, a friend of mine is selling on ebay and is making about 10-15.000 dollars a month and does not pay a single dime in tax.

    What are the risks that the IRS will find out about you???

    //
    Posted 5 years ago  |  Login or Register to Reply

  2. neutrade

    Joined: November 2003
    Posts: 27

    sorry wrong area... if some moderator could move it, it would be appreciated..
    Posted 5 years ago  |  Login or Register to Reply

  3. bkenn01

    Joined: January 2004
    Posts: 511

    Bottom Line is the IRS doesnt care where or what you sell. They expect you to pay your taxes. If they catch your friend he will go down big time.
    Posted 5 years ago  |  Login or Register to Reply

  4. sergio

    Joined: August 2003
    Posts: 91

    You should report every dime you make, however as you said there are lots of ebayers who sell very well and dont pay a dime on taxes. I heard that paypal will go after them soon and will report the money they made.

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    Posted 5 years ago  |  Login or Register to Reply

  5. mason

    Joined: June 2003
    Posts: 497

    eBay & Paypal both report there taxes to the IRS. So they know whose selling on ebay.

    Also, I would think that all of the transactions online are being watched. Possibly big brother?

    If you're grossing more than $10,000, I'd recommend reporting it. If it's less than that, you can just say that you're selling your personal items. That way you won't have to pay taxes on it.
    Posted 5 years ago  |  Login or Register to Reply

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