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Thread: Now e-Bay wants my SSN and bank account info . . .???

  1. #111

    Join Date
    Sep 2007

    Re: Now e-Bay wants my SSN and bank account info . . .???

    Taxing casual sales was until recent times a technicality, but never enforced. Flea markets, "cash only" barber shops and similar venues, yard sales, auto sales, crop sales (roadside produce stands) were all left alone by the IRS. Today, with everything monitored, tracked, and required on the internet, the loopholes are closing.

    My father-in-law is very anal about "capital gains", and has dutifully reported anything he sells. Actually, he usually gives it away, warning his kids and anyone that listens that "you cannot sell that [old bike, antique dresser] without reporting capital gains!" I've heard him for 30 years, and always ignored the worry. But when you are ID'd and tracked online, it's much easier for the IRS to force your hand (and their outstretched hand).

    My point is for as long as we've had sales tax (not that long really), 90% of the people don't pay it, and no one every noticed.
    Last edited by goamules; 30-Aug-2021 at 13:43.

  2. #112

    Join Date
    Aug 2004

    Re: Now e-Bay wants my SSN and bank account info . . .???

    exactly why cashless society is being pushed. its all about our uncle sam getting his take. i had an uncle like that, he sold glass insurace to stores.


  3. #113

    Join Date
    Dec 2005
    Los Angeles, CA

    Re: Now e-Bay wants my SSN and bank account info . . .???

    Paying taxes is an obligation of a citizen. Paying only tax that is owed is a right as a citizen. Paying too much tax is not being financially responsible. Avoiding taxes by nefarious means is a crime.

    Not everyone agrees with all of those, hence the increased oversight. It is what it is.

    Learning how to address the issue via the appropriate mechanisms (sched c, d or just "eating it" and reporting as income if it takes more effort to do the forms than the tax "savings" will be) is a smart thing to do.

    Voluntarily paying tax on sales not documented by a 1099, for example, is an ethical issue that depends on each persons individual ethics.

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