Attn: All Online Retailers - Sponsors

[Vonderbach]

U.S. Residents Only

Starting in 2011, all U.S. payment providers including PayPal will be required by the IRS to report sales information about certain merchants to the IRS. We want to help you understand these changes.

Applies to merchants receiving over $20,000 in gross sales volume AND 200 payments or more
Applies only for sales beginning on January 1, 2011

In the past, Paypal has always been a tax shelter of sorts. If you're being honest, you're already reporting your revenue. But until now, the government has never been capable of accessing Paypal records.

Remember, this only affects you if you have in excess of $20,000 in sales AND 200 transactions. Of course, if you've been a good little taxpayer, then you can just ignore this and go about your business.

More info here :https://cms.paypal.com/us/cgi-bin/m...ent&fli=true&content_ID=marketing_us/IRS6050W

 

[captain]

Yep I got my notice last week... Good news good news I report it all...

 

[Commuta_Busa]

I may have mentioned this once or twice... paypal is the devil.