I don’t sell anything and certainly won’t start. The boon to selling sites this year will be followed by a drop thereafter, as people just don’t want to provide such sensitive information and deal with the hassle of reporting income from sales. Another blow to the average person just trying to sell off things that they have lying around. The internet becomes less useful.
New ebay payments require SS#?
I received an email from ebay and they now will deposit your amount from a sale directly into your bank account. So, they require your routing and account numbers. But they also required my SS number, which I'm not sure I like. They say the purpose is to comply with government regulations. Is there any reason to think they would transmit the amount of your sales to the irs and issue you a 1099? I only occasionally sell used items on ebay and don't consider any amount I receive to be taxable income. Thoughts?