NEW REVISED CORRECTION 1099K IRS reporting for sales over $600 a year-
Moderator: Rob Voska
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NEW REVISED CORRECTION 1099K IRS reporting for sales over $600 a year-
For those of you who have stopped selling karts and part like me because of draconian tax laws, this link will get you to the online ebay petition to fight and repeal this travisty. I wont get anymore political-Not The Place. But many of us use eBay to buy and sell, but have stopped because of the new tax law.
Incidentally, have you noticed the lack of parts being sold on ebay as compared to last year?
Actually I stopped last June when paypal got tossed and everything has to go directly through the checking account, making it no longer an annonomous transaction the gov’t would have access to.
Anyways, here is the link if you want to speak out against the tax through eBay.
https://www.ebaymainstreet.com/issues/1 ... -reporting
Accepting a Paypal payment for $601.00 will automatically flag you as a 1099K tax status. Also the tax is said to be automatically taken, so you cant get around it.
So if you you aint standing in front of me with a fist full of cash, It’s’ still mine.
Please stay on topic if you feel the need to comment, Thank You
Mark L. / SWNY
Incidentally, have you noticed the lack of parts being sold on ebay as compared to last year?
Actually I stopped last June when paypal got tossed and everything has to go directly through the checking account, making it no longer an annonomous transaction the gov’t would have access to.
Anyways, here is the link if you want to speak out against the tax through eBay.
https://www.ebaymainstreet.com/issues/1 ... -reporting
Accepting a Paypal payment for $601.00 will automatically flag you as a 1099K tax status. Also the tax is said to be automatically taken, so you cant get around it.
So if you you aint standing in front of me with a fist full of cash, It’s’ still mine.
Please stay on topic if you feel the need to comment, Thank You
Mark L. / SWNY
Last edited by Mark Loraine on Mon Nov 27, 2023 2:32 pm, edited 1 time in total.
Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
We don't charge a fee for anything so just post the parts in the for sale section on this website.
R.E.A.R.
R.E.A.R.
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Re: UPDATE.. 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
December 6th 2022
IRS Issues Another Tax Warning to Americans Who Made More Than $600 Online
https://www.theepochtimes.com/irs-issue ... FtEw%3D%3D
the tax is on the transaction total including shipping and insurance.
IRS Issues Another Tax Warning to Americans Who Made More Than $600 Online
https://www.theepochtimes.com/irs-issue ... FtEw%3D%3D
the tax is on the transaction total including shipping and insurance.
Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
Mark you know the irs is just a deep state goon squad to suck laborers dry. They are just blocking all the exits before forcing a digital world / currency on us all. Forcing phone sex currency at swap meets between "free" people so they can tax and tax and tax and tax the same item over and over again. Heaven forbid you have so much as a garage sale............ without paying the overloards their due. Just wait until they impliment currency experation dates where you use it or lose it. It will make inflation look like the good ol times.
A petition? LOL. There is only one solution when you are at war. FYI the enemy declairs war, not you.
SORRY we have tried to keep this site politics free. Sadly a bunch of d list asshat actors following orders have infiltrated every aspect of our lives.
A petition? LOL. There is only one solution when you are at war. FYI the enemy declairs war, not you.
SORRY we have tried to keep this site politics free. Sadly a bunch of d list asshat actors following orders have infiltrated every aspect of our lives.
- Russ Smith
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Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
I fear that contacting the IRS to voice concerns about these abusive and ridiculous taxes will only put a target on your back that the IRS will exploit. I seriously doubt the IRS will give a rat's a$$ about any petition. Man, do I pray I'm wrong.
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Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
At this stage, its really no longer about the petition. Its an informative thread now to alert the vintage karters that use paypal and bank debit cards run through your checking to buy and sell they're kart parts, are going to get tagged.
Besides, the petition was with eBay, not a direct IRS contact.
With a full on attack against the American people, I'm guessing this thread is now the least of anyone's concerns, so I'll bow out now and leave this to posterity and maybe even the way back machine.
If you don't watch network media, you're un-informed.
If you watch and read the news, your mis-informed....
I'd still like to know about the so called "POSTAL MONEY ORDER LOOPHOLE" though.
Thanks,
Mark
Besides, the petition was with eBay, not a direct IRS contact.
With a full on attack against the American people, I'm guessing this thread is now the least of anyone's concerns, so I'll bow out now and leave this to posterity and maybe even the way back machine.
If you don't watch network media, you're un-informed.
If you watch and read the news, your mis-informed....
I'd still like to know about the so called "POSTAL MONEY ORDER LOOPHOLE" though.
Thanks,
Mark
Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
Simple, how you going to pay for the serieal numbered money order?
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Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
I try to stay away from selling on ebay, except for low dollar odd ball stuff.
For non-ebay sales, I ask buyers to send a check, or a money order. Delays delivery, but it works.
I never get close to any checking account deposit limit.
For non-ebay sales, I ask buyers to send a check, or a money order. Delays delivery, but it works.
I never get close to any checking account deposit limit.
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Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
So if your selling a vintage kart on eBay in parts and accessories, you will pay 13.25% eBay final value fee's based on the entire amount including shipping and Insurance, that's right Fee's on the costs to send what ever you sold.
Same for the tax man, here in NYS I have to pay 8% on most all purchases and on everything I sell that is now zero, for a grand total of 21.25% which is outright stealing in my opinion. Sell $1000 dollars and $212.50 is taken out.
I've just completed 4 sales from 3 individuals using postal Money Orders that are sent Certified mail which can be tracked on USPS tracking for the cost of $5.01 as of this writing. Security envelopes is the only way to mail these PMO's or at least wrap them with a newspaper tear off to camouflage the contents of the envelope.
Tearing off the receipt portion of the PMO is your only proof of what you bought, so tear it off and staple it to the printed receipt you get from the clerk.
This January 1st the IRS 1099 KY jelly reporting will have been in effect for 2 years.
I shitcanned PaPal, besides they're anti 2nd A.
Please stay on topic if you feel the need to comment, Thank You
Mark L. / SWNY
Same for the tax man, here in NYS I have to pay 8% on most all purchases and on everything I sell that is now zero, for a grand total of 21.25% which is outright stealing in my opinion. Sell $1000 dollars and $212.50 is taken out.
I've just completed 4 sales from 3 individuals using postal Money Orders that are sent Certified mail which can be tracked on USPS tracking for the cost of $5.01 as of this writing. Security envelopes is the only way to mail these PMO's or at least wrap them with a newspaper tear off to camouflage the contents of the envelope.
Tearing off the receipt portion of the PMO is your only proof of what you bought, so tear it off and staple it to the printed receipt you get from the clerk.
This January 1st the IRS 1099 KY jelly reporting will have been in effect for 2 years.
I shitcanned PaPal, besides they're anti 2nd A.
Please stay on topic if you feel the need to comment, Thank You
Mark L. / SWNY
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- Posts: 297
- Joined: Sun Aug 12, 2007 9:36 am
- Vintage Karting items owned: 4 Bugs, including the Wasp bought by my Dad in 1959. Many Clintons and a few Macs
- User Agreement: Yes
- Location: Cumming, GA
Re: 1099K IRS reporting for sales over $600 a year-eBay is fighting back-sign petition.
I just sold a restored Porsche engine for $18,000.
Ebay fees were around $1300 and I can hardly wait to get my 1099.
terry
Ebay fees were around $1300 and I can hardly wait to get my 1099.
terry