Looks like all electronic forms of payment will be reported, not just
PayPal.
There won't be any confusion, anything over the limits set by the government
will be income and a 1099 will be issued and reported.
73,
Cliff K3LL
> -----Original Message-----
> From: [email protected] [mailto:[email protected]]
> On Behalf Of Shagbark Acres
> Sent: Friday, May 21, 2010 5:19 PM
> To: [email protected]
> Subject: [Amps] Time to Quit Using PayPal?
>
> Seems as though PayPay will be reporting transactions to the IRS now...
>
> Lots of room for confusion for the "Private, non-business" seller...
>
> Check out:
>
> http://money.cnn.com/2010/05/21/smallbusiness/1099_deluge/index.htm?sou
> rce=cnn_bin&hpt=Sbin
>
>
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