Does ebay pi$$ anybody else off besides me?

[Rickster]

Always pays to go to the source of law, in this case the proposed text from the IRS:

Section 6050W(e) provides an exception for de minimis payments by third party
settlement organizations to certain participating payees. Under the proposed
regulations, a third party settlement organization must report payments made to a
participating payee only if its aggregate payments to that payee from third party network transactions exceed $20,000 and the aggregate number of those transactions with the payee exceeds 200.


Note the inclusion of the key word "AND" between the $20k and the 200 transactions. This makes it a $20K limit for most folks selling a multitude of smaller items.

 

[Lump]

Nice info, Rickster.

Like you said, much nicer to report facts than rumor.

My worry for some folks is that the IRS rules about PAYING taxes applies to individuals and businesses...not the "reporting entity." So if eBay reports sales from the past exceeding those limits, they already have the laws to act upon...

 

[BJ42LX]

My worry for some folks is that the IRS rules about PAYING taxes applies to individuals and businesses...not the "reporting entity." So if eBay reports sales from the past exceeding those limits, they already have the laws to act upon...

Ex post facto.

http://en.wikipedia.org/wiki/Ex_post_facto_law

 

[carap]

I myself use snipe software when I bid on Ebay. If you place your maximum bid and it is higher than mine you will win. If you place the bid early it just drives the price up. No one is cheating any one.

 

[SMKS]

Always pays to go to the source of law, in this case the proposed text from the IRS:

Section 6050W(e) provides an exception for de minimis payments by third party
settlement organizations to certain participating payees. Under the proposed
regulations, a third party settlement organization must report payments made to a
participating payee only if its aggregate payments to that payee from third party network transactions exceed $20,000 and the aggregate number of those transactions with the payee exceeds 200.


Note the inclusion of the key word "AND" between the $20k and the 200 transactions. This makes it a $20K limit for most folks selling a multitude of smaller items.

Yes, like I said, you'd have to sell a lot to be affected. I spend a decent amount of time finding items and selling them and I don't even come close to that amount.

 

[Lump]

BJ42LX, I agree...to a point.

IF I understand it correctly, "Ex Post Facto" means that new laws cannot be passed and then enforced for actions which happened in the past. Right?

But that is my whole point. This is NOT the situation, in this case.

The tax laws requiring us to pay sales tax, or income tax on all "income" have been in place for a LONG time. The only new law in question now requires eBay and PayPal to REPORT to the government on who has been selling what, and for how much.

You see?

So now, if I understand this correctly, the IRS will finally be able to prove that someone "broke the law" by selling stuff in the past without reporting those sales to the government. The only "NEW" law is the one which reveals that information to the IRS.

Again, I'm not siding with the IRS. I'm just concerned for the folks who have have sold a lot "on the side" on eBay for the past several years.

 

[johnsdeere850j]

I myself use snipe software when I bid on Ebay. If you place your maximum bid and it is higher than mine you will win. If you place the bid early it just drives the price up. No one is cheating any one.

However you see it I guess. Lot more people do this than I thought

 

[zer0cell]

It pisses me off when sellers on ebay (cripe) list things like an armstrong 15-199 socket set and I buy it and pay and then they tell me they dont have it and refund me... wtf? can it really be that hard to know if you have something that you JUST listed? my guess is they like to play games and see what the demand is for an item and then if it sells too fast they just relist it under another user name for a higher price... its B.S. if you ask me and i will never buy from those creeps again... first and last time.

 

[Busted_Knuckles]

It pisses me off when sellers on ebay (cripe) list things like an armstrong 15-199 socket set and I buy it and pay and then they tell me they dont have it and refund me... wtf? can it really be that hard to know if you have something that you JUST listed? my guess is they like to play games and see what the demand is for an item and then if it sells too fast they just relist it under another user name for a higher price... its B.S. if you ask me and i will never buy from those creeps again... first and last time.

Most of the time, that is just a plain screw up, they probably sold the last one, and re-listed it thinking they still had some. Ive done that several times, its called being human, also known as CRS.

This is especially true of someone selling NOS anything. It cost time and money to list and sell something you don't have (fees!), and you're not testing the waters if its NOS, because if it is NOS, and your out of stock, chances are extremely good, you ain't gonna get no more to sell, so your not "testing the waters".

Not saying that is the case with your transaction, but every time I sold something I didn't have, its because I had several, sold through all of them, but thought I had one more. Some times, I just hit the wrong box and meant to re-list the item above or below it, and the wrong item gets listed. So keep in mind, a fee is paid to list, and sell when you hit the "buy it now", not to mention your putting your hard earned feedback at high risk.