doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Reporting Sales To The IRS Form 1099

You are talking about the IRS, what part did you expect to be fair? More active regulation is Biden’s direction. He wants everyone to pay their “fair share” of taxes. What is in dispute is what is fair and then how the money is wasted by the government.

I would favor a more reasonable figure like $5,000.00 instead of the $600.00 minimum which dates back to 1862 when the predecessor of the IRS was started. In 1862 income between $600.00 and $10,000.00 was taxed at 3%. Honestly, I think sale of personal property should be none of their business, but I know some will abuse that, to run a business and claim it all was personal property.

It is not just EBay you need to worry about. PayPal and other third party players who handle the money are going to be reporting transactions as well, I am told. If it is electronically paid, there will be a trail for the IRS to find and now they will just need to make them do all the work for the IRS. If third parties all report every yearly transaction greater than $600.00 there are going to be a lot of minor sales taxed needlessly to catch a few underground sellers.