Tuesday, August 2, 2011

Sell stuff online? You might pay taxes on it - PayPal now telling IRS about you

I just read a fascinating article that talks about PayPal and other online merchants that now have to tell the IRS about customers who used their credit cards and accounts to sell stuff online and collect funds that they don't report to the IRS.

Thank God I've been tracking my online income for years and have been filing taxes on it and recording my expenses and paying the IRS what I owe them every year.

And thank God that the IRS approved my installment plan payout and for my new CPA who really helped with all the organization and to save on taxes and to do them correctly.

Read about the IRS and PayPal telling the government what people might owe them here...

Small business news - FORTUNE Small Business

Tuesday, August 2, 2011

Sell stuff online? You might pay taxes on it - PayPal now telling IRS about you

I just read a fascinating article that talks about PayPal and other online merchants that now have to tell the IRS about customers who used their credit cards and accounts to sell stuff online and collect funds that they don't report to the IRS.

Thank God I've been tracking my online income for years and have been filing taxes on it and recording my expenses and paying the IRS what I owe them every year.

And thank God that the IRS approved my installment plan payout and for my new CPA who really helped with all the organization and to save on taxes and to do them correctly.

Read about the IRS and PayPal telling the government what people might owe them here...