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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? 
mtrot
mtrot OP
804 posts
 
@markpao
No, my bank account password was never requested.
stereo5's avatar
stereo5
6,721 posts
 
@mtrot,

You are correct, I meant to say eBay, my mistake. I read this I believe from one of the Stereophile writers.  It is also written into the 2018 tax law that online sales by private party’s will be subject to paying Federal Taxes on their sales starting with the 2021 income taxes. I understand PayPal is involved. I wonder if I will get a 1099 for everything I already sold this year?  I hope not as I practically gave away the GE Triton Ones I sold.  Paying a tax on that sale is would really add insult to injury. 
chicagoblue1977's avatar
chicagoblue1977
224 posts
 
I know I have received several emails on eBay’s change in “how you get paid” 

Have not bothered to read these notices because I have not sold anything on their platform in some time.

Next we will have a VAT Tax.....oops before you get your panties in a wad I am kidding. 
Post removed 
fiesta75
1,535 posts
 
Haven't heard about ebay asking for SSN, but did hear about bank info and password on THIS forum. I wouldn't provide your SSN, but yes they will send the irs info on your sales and you'll need to pay taxes on that amount. I don't sell on ebay any longer and won't go back. Audiogon, Reverb and Bonanza is the what I use.
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